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BUDGET STATEMENTS

2019-20

for

Environment, Planning and Sustainable Development Directorate

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2018-19 Budget Statements 2 Environment, Planning and Sustainable Development Directorate

ContentsENVIRONMENT, PLANNING AND SUSTAINABLE DEVELOPMENT DIRECTORATE......................1

Purpose................................................................................................................................ 1

2019-20 Priorities.................................................................................................................2

Estimated Employment Level...............................................................................................3

Strategic Objectives and Indicators......................................................................................4

Output Classes......................................................................................................................8

Accountability Indicators....................................................................................................14

Changes to Appropriation..................................................................................................20

Summary of 2019-20 Infrastructure Program....................................................................27

Financial Statements – Controlled......................................................................................29

Financial Statements – Territorial......................................................................................39

CITY RENEWAL AUTHORITY – STATEMENT OF INTENT...........................................................51

CITY RENEWAL AUTHORITY....................................................................................................52

Purpose.............................................................................................................................. 52

Nature and scope of activities............................................................................................53

2019-20 priorities...............................................................................................................55

Estimated Employment Level and Employment Profile.....................................................56

Key performance indicators for 2019-20 to 2022-2023.....................................................57

Changes to Appropriation..................................................................................................61

Monitoring and Reporting..................................................................................................63

Financial arrangements......................................................................................................65

Financial Statements..........................................................................................................66

SUBURBAN LAND AGENCY – STATEMENT OF INTENT...........................................................74

SUBURBAN LAND AGENCY.....................................................................................................75

Purpose.............................................................................................................................. 75

Nature and Scope of Activities...........................................................................................75


Risks................................................................................................................................... 78

Priorities and Strategies for 2019-20 to 2022-23...............................................................80

Estimated Employment Level and Employment Profile.....................................................81

Key Performance Indicators for 2019-20 to 2022-23.........................................................82

Assessment of Performance Against 2018-19 Objectives..................................................85

Monitoring and Reporting..................................................................................................87

Financial Arrangements......................................................................................................88

Financial Statements..........................................................................................................89


ENVIRONMENT, PLANNING AND SUSTAINABLE DEVELOPMENT DIRECTORATE

PurposeThe Environment, Planning and Sustainable Development Directorate (the Directorate) promotes the orderly growth of our city, strengthens the Territory’s response to climate change, provides an integrated planning and land use system that contributes to the sustainable development and future of the ACT and manages the Territory’s parks and reserves.

The Directorate’s vision is to ‘Shape Canberra’s Future’. We deliver on this vision through our Strategic Plan 2019-22 and the Directorate’s four strategic objectives, which provide a blueprint for the Directorate’s priorities and performance management. The objectives require the Directorate to plan and deliver a compact and efficient city that balances the needs of the environment, our heritage and our culture, and that we do this while building resilience against climate change and other change stressors.

The Directorate is responsible for developing and implementing key ACT Government strategic and spatial plans (including the Territory Plan), climate change strategies, housing policy, building policy, the Indicative Land Release Program, management plans for reserves and urban renewal initiatives.

The Directorate’s objectives operate individually as well as in cooperation with each other to ensure a holistic approach to delivery of the Government’s agenda.

A compact and efficient city built around the principles of people-centered and outcomes-based planning must also be in harmony with its natural environment to make sure that our citizens can continue to engage with nature and enjoy all the benefits that brings. A more compact city is a more energy efficient city that reduces the impact on our climate and environment. Through transparent planning changes and planning decisions and engagement with all demographic groups in the community we can build trust and confidence in the Directorate.

We are motivated by working proactively to build the trust and confidence of our stakeholders in all that we do. We will do this by behaving ethically, transparently and efficiently while making administratively sound decisions.

This all means the shape that we will leave Canberra in for future generations will be one that we can all be proud of.


2019-20 PrioritiesEnvironment, Planning and Sustainable Development Directorate’s priorities for 2019-20 reflect its Strategic Objectives, which are outlined in its Strategic Plan 2019-22.

The Directorate is committed to operating in a manner that is informed, connected and innovative. Our key actions for 2019-20 reflect this commitment – they enable achievement of specific Strategic Objectives and work collectively to allow the Directorate to meet all its Objectives and overarching vision.

To deliver on these Objectives, the Directorate will undertake the following key actions:

Deliver a compact and efficient city

Key actions:

Review the Territory Plan and ACT planning system to align with the 2018 ACT Planning Strategy and best practice

Commence the Western Edge Study to identify opportunities for greenfield development

Commence development of planning and design directions for a City to Woden Light Rail corridor

Undertake due diligence studies of urban renewal and greenfield sites for release in the Indicative Land Release Program; and

Continue improvement to, and reform of, the ACT’s building regulatory system.

Enhance Canberrans’ quality of life by conserving and experiencing nature and culture

Key actions:

Commence the Ingledene Forest Project

Deliver the Sullivans Creek Floodplain Management Plan

Undertake feasibility and design activities to support community connection through a new Woden Community Centre; and

Implement initiatives that enable the design and delivery of safe, accessible and inclusive communities.

Lead the transition to a net-zero emissions city

Key actions:

Support deployment of large-scale renewable energy generation to meet the ACT’s 100 per cent renewable electricity by 2020 target

Continue to administer and expand the scope of the Energy Efficiency (Cost of Living) Improvement Scheme

Deliver the Government’s Next Generation Battery Storage program


Progress initiatives and commitments to deliver the ACT Government’s climate change agenda; and

Implement initiatives and commitments under the ACT’s Transition to Zero Emissions Vehicles Action Plan 2018–2021.

Build trust and confidence

Key actions:

Establish the permanent National Capital Design Review Panel

Establish an engagement strategy to guide the ACT Planning Review

Complete the review of the pre-development application guidelines and implement recommended initiatives; and

Increase access to information that promotes community understanding of the work of the Directorate.

Estimated Employment Level

Table 1: Estimated Employment Level

2017-18Actual

Outcome

2018-19Budget

2018-19Estimated Outcome

2019-20Budget

Staffing (FTE)1 629 6782 6443 6854

Note(s):1. Includes the Office of the Commissioner for Sustainability and the Environment.2. The 2018-19 Budget includes a number of FTE associated with the delivery of new initiatives. 3. The variation between the 2018-19 Estimated Outcome and the 2018-19 Budget is mainly due to recruitment

processes still underway, or about to be completed.4. The variation between the 2018-19 Budget and the 2019-20 Budget is due to new FTE associated with 2019-20 Budget

initiatives, partly offset by a reduction in the number of FTE associated with the Public Housing Renewal Taskforce and the Loose-Fill Asbestos Insulation Eradication Scheme.


Strategic Objectives and Indicators

Strategic Objective 1 – Deliver a compact and efficient city1

Strategic Indicator 1.1: Drive integrated land use outcomes that deliver well-designed sustainable urban growth and community infrastructure while protecting Canberra's environment.2

Over 2019-20 the Directorate will:

Implement the ACT Planning Strategy through investigations on appropriate built form, community facilities and services and infrastructure to support urban intensification;

Undertake a review of the Territory planning system, encompassing legislation and consideration of the Territory Plan structure and policy content;

Commence development of a Light Rail City to Woden Planning Framework;

Continue to progress the Strata Reforms with the Strata Reform Consultative Group, progressing with the Stage 1 reforms through due process and confirming Stage 2 reforms to progress in 2020-21;

Implement the City Plan to make sure that the city centre has the appropriate controls for planning and development to maintain and grow its position as Canberra’s primary commercial centre;

Develop and monitor delivery of the Indicative Land Release Program, including undertaking necessary due diligence activities;

Support progression of East Lake between Kingston Foreshore and the Jerrabomberra Wetlands to deliver mixed-use land supply;

Enhance Development Approvals through expansion of the Directorate’s Merit Assessment team and online presence to provide faster and more efficient processing of the increasing number and complexity of development applications;

Administer an efficient, transparent and accountable leasehold and planning approvals system that underpins the Territory’s economy;

Continue to progress the implementation of the Housing Choices project to improve the availability of a range of housing options in residential areas, through Territory Plan Variations and through other mechanisms;

Continue to progress the implementation of the City and Gateway Urban Design Framework through Territory Plan Variations and through other mechanisms; and

Continue to promote urban renewal initiatives that provide innovation, sustainability, liveability and design quality, such as the Demonstration Housing project.


Strategic Indicator 1.2: Complete Improving the ACT Building Regulatory System reforms package and continue the further development of policies for safe, healthy and liveable buildings and transparent and efficient regulation of the building and construction industry.2


Continue to implement the outcomes of the review of the Building Act 2004, including the Improving the ACT Building Regulatory System reform program;

Continue to deliver the Loose-Fill Asbestos Insulation Eradication Scheme;

Continued progression of the eDevelopment renovation project; and

Increase capacity to support effective and efficient processing of heritage development approvals.

Strategic Objective 2 – Enhance Canberrans’ quality of life by conserving and experiencing nature and culture1

Strategic Indicator 2.1: Effectively manage and mitigate risks to the ACT's environment, culture and people to increase resilience in response to climate change and other stressors.2


Establish the Ingledene pine plantation to increase the Territory’s sustainable timber resources;

Implement the ACT’s environment strategies and plans – Nature Conservation Strategy 2013-2023, Water Strategy ‘Striking the Balance 2014–44’, ACT and Region Catchment Strategy 2016-46 and Action Plans; and

Develop the Sullivans Creek Floodplain Management Plan to inform strategies to minimise flood risk.

Strategic Indicator 2.2: Respect and enable Traditional Custodians’ aspirations and build capacity to Care for Country together.2


Partner with Traditional Custodians to proactively manage the ACT’s natural and cultural environment; and

Support the ACT Heritage Council and the Government to recognise, conserve and celebrate places and objects of historic, Aboriginal and natural heritage significance.


Strategic Indicator 2.3: Improve access to community facilities and enable people to experience nature and culture to improve people’s physical, emotional and social well-being.2


Identify areas suitable for nature reserves, environmental offsets and areas for heritage conservation as part of the Western Edge Study;

Support establishment of a Special Purpose Reserve North in the Molonglo River Reserve through remediation of the former Molonglo Sewerage Treatment Plant;

Work with the Woodlands and Wetlands Trust to deliver the Mulligan’s Flat Woodland Sanctuary;

Undertake feasibility and design for a new Woden Community Centre; and

Implement initiatives that enable the design and delivery of safe, accessible and inclusive communities.

Strategic Objective 3 – Lead the transition to a net-zero emissions city1

Strategic Indicator 3.1: ACT emissions reduced in line with Government targets.2


Develop and deliver a climate change policy to achieve zero-net emissions by 2045, with a detailed action plan to achieve the 2025 interim target;

Deliver initiatives and programs to support increased energy efficiency in homes, businesses, schools and other parts of the built environment;

Implement the actions in the ACT Government’s Transition to Zero Emissions Vehicles Action Plan 2018–2021; and

Continue to administer the Renewable Energy Innovation Fund and programs to realise the Government’s vision for the ACT as an internationally recognised centre for renewable energy innovation and investment, diversifying the economy and creating new export industries.

Strategic Indicator 3.2: ACT electricity systems are 100% renewable.2


Support the deployment of large scale renewable energy generation to meet the ACT’s 100 per cent renewable electricity and greenhouse gas reduction targets; and

Support ACT Government agencies to maintain and improve carbon neutral operations.


Strategic Objective 4 – Build trust and confidence1

Strategic Indicator 4.1: Demonstrate probity, accountability, transparency and continual improvement in what we do.2

Implement an interactive Directorate’s policy register to promote, enhance and provide management oversight and accountability of policy and procedures;

Continue development and implementation of a comprehensive suite of guidance materials for land transactions and related activities;

Prepare advice for Government on learnings from Public Housing Renewal and Asbestos Response Taskforces to inform future Government projects; and

Establish the National Capital Design Review Panel.

Strategic Indicator 4.2: Engage with and educate communities, industry and organisations.2

Complete consultation on a new Biosecurity Bill for the ACT;

Engage with community on implementation of business improvement initiatives to enhance efficient assessment and processing of development applications;

Design engagements and information campaigns that make information accessible to the broader community;

Increase access to information that promotes community understanding of the work of the Directorate; and

Complete the review of the pre-development application guidelines and implement recommended initiatives.

Strategic Indicator 4.3: Identify and adopt innovative business models to remove barriers and create opportunities for efficient and effective operations.2

Undertake a review of the Directorate’s improved business model for the assessment and processing of development applications to test compliance with applicable legislative frameworks; and

Secure business and community understanding and endorsement on climate change action with support from the ACT’s Climate Change Council and the community.

Note(s):1. New Strategic Objective.2. New Strategic Indicator.


Output Classes

Output Class 1: Planning

Table 2: Output Class 1: Planning

2018-19 2019-20Estimated Outcome Budget

$'000 $'000

Total Cost1 32,038 37,625Controlled Recurrent Payments 27,003 31,362

Note(s):1. Total cost includes depreciation and amortisation of $0.117 million in 2018-19 and $0.149 million in 2019-20. Total

cost is also supplemented by own source revenue of $2.704 million in 2018-19 and $2.791 million in 2019-20.

Output 1.1: Planning Delivery

Facilitate and manage growth and change within the ACT through development assessment and leasehold management, with the overarching objective of promoting and facilitating economically productive, sustainable, attractive, safe and well-designed urban and rural environments in the ACT.

Table 3: Output 1.1: Planning Delivery2018-19 2019-20

Estimated Outcome Budget$'000 $'000


Note(s):1. Total cost is supplemented by own source revenue of $2.704 million in 2018-19 and $2.791 million in 2019-20.

Output 1.2: Planning and Building Policy

Provision of high quality professional services in strategic land planning; administering the Territory Plan; planning for land release; developing policies for high quality urban design; and policies for buildings, building services, and the building and construction industry.

Table 4: Output 1.2: Planning and Building Policy2018-19 2019-20


Total Cost 16,645 18,788Controlled Recurrent Payments 14,127 16,118


Output Class 2: Environment

Table 5: Output Class 2: Environment


$'000 $'000


Note(s):1. Total cost includes depreciation and amortisation of $4.753 million in 2018-19 and $4.852 million in 2019-20. Total

cost is also supplemented by revenue from the Commonwealth Government and sales from forestry harvesting.

Output 2.1: Environment

Help protect the ACT’s natural environment through:

the implementation of programs responding to natural resource management as part of the Commonwealth’s National Landcare Program;

manage, review and implement legislation/action and plans to help protect land and species;

sustainable use of water, including through implementation of Striking the Balance, the ACT’s Water Strategy;

establish and support an ACT and region catchment management governance framework;

administer the annual funding of the ACT Environment Grants Program;

promotion and involvement of the community in caring for the ACT’s natural environment; and

develop, review and implement legislation, policies and standards to protect the natural and built environment.

Table 6: Output 2.1: Environment


$'000 $'000


Note(s):1. Total cost includes depreciation and amortisation and is supplemented by revenue from the Commonwealth for

environmental programs.


Output 2.2: Conservation and Land Management

Planning and management of the ACT’s parks, reserves, unleased public land and plantations, including associated community infrastructure. The land manager role includes management of land for recreational use; conservation management; including management of national parks, nature reserves; fire management; and pest and weed control as well as the management of the Territory’s softwood plantation and oversight of rural production areas.

Table 7: Output 2.2: Conservation and Land Management2018-19 2019-20



Note(s):1. Total cost includes depreciation and amortisation and is also supplemented by sales from forestry harvesting.

Output 2.3: Heritage

Administration of the heritage provisions of the Heritage Act 2004 and assistance in the conservation of the ACT’s heritage assets to ensure their recognition, registration and conservation. The area provides administrative and operational support to the ACT Heritage Council and its projects and administers the annual funding of the ACT Heritage Grants Program, the annual Canberra and Region Heritage Festival and Capital Works projects as they relate to heritage conservation works. A key function is also the promotion and education of the community regarding heritage assets of the ACT.

Table 8: Output 2.3: Heritage2018-19 2019-20



Output Class 3: Climate Change and Sustainability

Output 3.1: Climate Change and Sustainability

Develop policy and provide advice in relation to:

the ACT’s climate change agenda;

investments in renewable electricity to achieve the government’s 100% renewable electricity target and delivery of local industry development strategies;

frameworks to ensure the ACT’s energy systems (electricity, fuel and liquid fuels) are reliable, sustainable and affordable;

measures to help households manage their energy better to reduce emissions and costs, including administration of the Actsmart programs;


the ACT Zero Emissions Government framework; and

administration of the Energy Efficiency (Cost of Living) Improvement Scheme.

Table 9: Output 3.1: Climate Change and Sustainability2018-19 2019-20



Note(s):1. Total cost is supplemented by revenue from the Energy Efficiency (Cost of Living) Improvement Scheme of

$3.950 million in 2018-19 and $3.4 million in 2019-20. Total cost is also supplemented by revenue from the Renewable Energy Innovation Fund and Next Generation Battery Storage of $10.180 million in 2018-19 and $8.560 million in 2019-20.

Output Class 4: Land Strategy and Urban Renewal

Table 10: Output Class 4: Land Strategy and Urban Renewal


$'000 $'000


Output 4.1: Land Strategy

Provide strategic, policy and planning direction and support, including preparation of the four-year Indicative Land Release Program (ILRP). The ILRP sets out the Government’s intended program for land release and seeks to facilitate housing diversity, provide affordable housing, stimulate economic activity, and meet the demand for land in the Territory and support a competitive land development and construction market. An element of this includes undertaking due diligence for land that contributes to the ILRP.

Table 11: Output 4.1: Land Strategy2018-19 2019-20




Output 4.2: Urban Renewal

Urban Renewal delivers projects that involve multiple policy outcomes. This work includes the identification of key precincts and individual projects, prioritisation of projects based on community need, undertaking feasibility studies and due diligence, and project delivery including demolition and minor works. This work seeks to integrate urban renewal opportunities across Government around defined urban renewal precincts, including within town and group centres and within pockets of established suburbs, such as local centres.

Table 12: Output 4.2: Urban Renewal2018-19 2019-20



Output Class 5: Loose Fill Asbestos Insulation Eradication

Output 5.1: Loose-fill Asbestos Insulation Eradication Scheme

The Asbestos Response Taskforce delivers the Loose-Fill Asbestos Insulation Eradication Scheme safely, compassionately and efficiently. It provides support and advice to affected homeowners, the Canberra community, industry and Government.

Table 13: Output 5.1: Loose-Fill Asbestos Insulation Eradication Scheme2018-19 2019-20



Note(s):1. Total cost includes the transfer of the net profit on land sales back to the Government.


Output Class 6: Public Housing Renewal Taskforce

Output 6.1: Public Housing Renewal Taskforce

The Public Housing Renewal Taskforce is delivering 1,288 replacement public housing dwellings that will better meet the needs of tenants, now and into the future, as part of the ACT Government’s public housing renewal program. This program supports the renewal of Canberra’s urban areas as the Public Housing Renewal Taskforce works with Urban Renewal, the City Renewal Authority and Housing ACT, to support the sale of older multi-unit public housing properties that are no longer fit for purpose.

Table 14: Output 6.1: Public Housing Renewal Taskforce2018-19 2019-20



Note(s):1. Total cost in 2019-20 includes the cost of land and transfer back to Government of the net profit on sale of land.

Output Class EBT: Office of the Commissioner for Sustainability and the Environment

Output EBT 1: Office of the Commissioner for Sustainability and the Environment

Publication of the State of the Environment Report, investigation of complaints by Ministerial direction, or where a Territory agency’s actions may have a substantial impact on the environment.

Table 15: Output EBT 1: Office of the Commissioner for Sustainability and the Environment2018-19 2019-20


Total Cost 1,373 2,025Payment for Expenses on Behalf of the Territory 1,368 2,010


Accountability Indicators

Output Class 1: Planning

Output 1.1: Planning Delivery

Table 16: Accountability Indicators Output 1.1

2018-19Targets


2019-20Targets

a. Development application processing times:- average processing times in working days 45 721 45- median processing times in working days 30 601 30

b. Percentage of development application decisions made within statutory deadlines

75% 39%1 75%

c. Percentage of development applications appeals resolved by mediation in relation to development proposals

35% 22% 35%

d. Percentage of ACT Civil and Administrative Tribunal (ACAT) decisions which uphold the Directorate’s original decision

85% 86% 85%

Notes:1. The variance from the 2018-19 Targets to the 2018-19 Estimated Outcome is mainly due to the number and

complexity of Development Applications which have consistently increased over the last five years, significantly increasing decision timeframes. Canberra experienced an unprecedented level of urban renewal in the City, Belconnen, Gungahlin, Woden and Tuggeranong town centres during 2018-19. There has been a doubling of more complex and higher public interest multi-unit residential developments and mixed-use or commercial developments since 2015-16. To address this situation, additional resources have been engaged and a new staged assessment model commenced in August 2018. Processing and determination times have subsequently improved. The 2019-20 target is based on the improvements flowing from these changes.

Output 1.2: Planning and Building Policy


2018-19Targets


2019-20Targets

a. Number of Environment and Planning Forums held during the year to assist in community consultations

6 5 6

b. Completion and publication of master plans1 2 3 n/ac. Undertake the ACT Planning Strategy Refresh2 1 1 n/ad. Number of Improving the ACT Building

Regulatory System reforms completed in year3

15 15 15

Notes:1. Indicator discontinued. The master plan program under the 2012 ACT Planning Strategy has been completed. The

Kippax and Curtin master plans and the additional Tharwa Village Plan were completed in 2018-19.2. Indicator discontinued. The Planning Strategy is reviewed every 5 years or as required, it was programmed for 2018-

19 and was completed and is therefore not relevant for 2019-20.3. A reform will be considered complete when the Minister reports its complete status to the Legislative Assembly or a

complete status is recorded in a project status update published on the Directorate’s website.


Output Class 2: Environment

Output 2.1: Environment


2018-19Targets


2019-20Targets

a. Submit twice yearly progress reports to the Commonwealth for the National Landcare Program

1 1 1

b. Prepare and submit National Environment Protection Measure jurisdictional reports to the National Environment Protection Council within agreed timeframe

Sep 2018 Sep 2018 Sep 2019

c. Prepare a public report on the implementation of the ACT Water Strategy

Jun 2019 Jun 2019 Jun 2020

d. Submit ACT Healthy Waterways project milestone reports to the Commonwealth in accordance with the Commonwealth agreement1

4 4 n/a

e. The conservator of Flora and Fauna to finalise Action Plans for matters listed under the Nature Conservation Act 2014, within 6 months following public consultation

100% 100% 100%

f. Implementation report on the Nature Conservation Strategy 2013-23 to be publicly released2.

Mar 2019 Jun 2019 Mar 2020

g. Prepare a public report annually on the Conservators actions to protect ACT flora and fauna

1 1 1

Notes:1. Indicator discontinued. The project program for delivery is to June 2019, therefore not applicable in 2019-20 as the

report was completed in 2018-19.2. Implementation report to be released in June 2019 as a result of balancing work priorities.


Output 2.2: Conservation and Land Management


2018-19Targets


2019-20Targets

a. Customer satisfaction with the Management of protected areas (Tidbinbilla Nature Reserve, Namadgi National Park and Canberra Nature Park)1

90% 90% 90%

b. Implement fuel management activities – grazing – as identified under the approved Bushfire Operational Plan (BOP)1

100% 100% 100%

c. Implement fuel management activities – physical removal – as identified under the approved Bushfire Operational Plan (BOP)1

100% 99% 100%

d. Implement fuel management activities – slashing – as identified under the approved Bushfire Operational Plan (BOP)1

100% 100% 100%

e. Implement fuel management activities – burning – as identified under the approved Bushfire Operational Plan (BOP)1

100% 85% 100%

f. Implement access activities – as identified under the approved Bushfire Operational Plan (BOP)1

100% 85% 100%

Notes:1. The Directorate anticipates the 100 per cent target will be met, however burning and access activities are heavily

influenced by appropriate weather conditions which will result in a reduced target achieved in 2018-19.

Output 2.3: Heritage


2018-19Targets


2019-20Targets

a. Notification on the legislation register of Heritage Council decisions within 5 working days of the decision

100% 100% 100%

b. Development application advice issued within 15 working days of referral by the ACT Land and Planning Authority1

90% 97% 90%1

c. Decisions about heritage registrations by the ACT Heritage Council made within statutory timeframes2

100% 100% 100%

Notes:1. The target is based on actual time to assess development applications including consultation and clarifications.2. This indicator relates to the timeframe imposed on the ACT Heritage Council to make a decision on final registrations

under the Heritage Act 2004.


Output Class 3: Climate Change and Sustainability

Output 3.1: Climate Change and Sustainability


2018-19Targets


2019-20Targets

a. Estimated total electricity saved from Carbon Neutral Government Fund projects1

10,000MWh 9,230MWh n/a

b. Number of households assisted by the Household Low Income Program

1,200 1,200 1,200

c. Number of businesses supported by energy, water and waste programs

750 750 750

d. Oversee the actions of the ACT’s Climate Strategy to a Net Zero Emissions Territory: - publish an annual greenhouse gas inventory for the ACT- publish an annual report on actions to achieve the ACT Government’s target of net zero carbon emissions in the ACT by 2050, at the latest and in Government operations by 2020

Dec 2018

Dec 2018

Feb 2019

Nov 2018

Dec 2019

Dec 2019

Notes:1. Indicator discontinued - With the move to 100% renewable electricity, moving from gas to electricity leads to

significant emissions reductions. Outcomes from government operations policy are included in the report referred to in indicator 3.1(d).

Output Class 4: Land Strategy and Urban Renewal

Output 4.1: Land Strategy


2018-19Targets


2019-20Targets

a. 4-year Indicative Land Release Program published1

1 1 1

b. Publish the annual affordable, community and public housing targets.

1 1 1

Notes:1. This accountability indicator covers publication of the 2018-19 to 2021-22 and the 2019-20 to 2022-23 Indicative Land

Release Program.

Output 4.2: Urban Renewal


2018-19Targets


2019-20Targets

a. Asset Recycling Initiative – number of 100% 100% n/a


2018-19Targets


2019-20Targets

settlements to be finalised of the eight remaining sites by 2018-19 to enable claim of the 15% Commonwealth Bonus1

b. Demolish and remediate the former Woden Canberra Institute of Technology (CIT)2

n/a n/a May 2020

Notes:1. Indicator discontinued as ARI program will be discontinued post 2018-19.2. New indicator.

Output Class 5: Loose-Fill Asbestos Insulation Eradication

Output 5.1: Loose-Fill Asbestos Insulation Eradication Scheme


2018-19Targets

2018-19Estimated Outcome1

2019-20Targets

Buy-Back and Demolition Program:a. Purchase affected dwellings 1 8 24b. Demolish affected dwellings 21 19 18c. Deregister affected properties post

demolition and soil validation27 19 18

Sales Program:d. Sale of remediated and deregistered blocks 221 161 63

Output Class 6: Public Housing Renewal Taskforce

Output 6.1: Public Housing Renewal Taskforce


2018-19Targets

2018-19Estimated Outcome1

2019-20Targets

a. Public Housing Renewal Program Contracts1 78 58 n/ab. Public Housing Renewal Program Delivery2 464 469 40

Notes:1. The last Public Housing Renewal Program contracts were awarded in 2018-19 for the final 40 dwellings to be

completed in 2019-20.2. This indicator covers the delivery of the ACT Government’s Public Housing Renewal Program and measures the

number of replacement dwellings completed and transferred to Housing ACT in the target year.


Output Class EBT: Office of the Commissioner for Sustainability and the Environment

Output EBT 1: Office of the Commissioner for Sustainability and the Environment

Table 26: Accountability Indicators Output EBT 1

2018-19Targets


2019-20Targets

a. Report on the uptake of recommendations on the ACT State of the Environment and special reports as part of the annual report

Oct 2018 Oct 2018 Oct 2019

a. Undertake Ministerial initiated investigations in accordance with the Minister’s direction

100% 100% 100%

b. Undertake Commissioner initiated investigations in accordance with the Terms of Reference

100% 100% 100%

c. Undertake complaints generated investigations in accordance with the Terms of Reference

100% 100% 100%

d. Report on the complaints about the management of the environment by the Territory or a Territory agency as part of the annual report

Oct 2018 Oct 2018 Oct 2019


Changes to Appropriation

Table 27: Changes to appropriation – Controlled Recurrent Payments

2018-19 Estimated Outcome

$'000

2019-20 Budget

$'000

2020-21 Estimate

$'000

2021-22 Estimate

$'000

2022-23 Estimate

$'000

2018-19 Budget 133,079 134,024 119,064 113,941 113,941

FMA Section 16B Rollovers from 2017-18Better Public Housing - New public housing properties 31,712 0 0 0 0Better services in your community - Implementation of ACT

Climate Change Adaptation Strategy80 0 0 0 0

Better services in your community - Improving sustainability through innovative financing

-41 0 0 0 0

Better services in your community - Managing native wildlife 150 0 0 0 0Better support when it matters - Public Housing Renewal -

New and better properties77 0 0 0 0

Better support when it matters - Public Housing Renewal - Taskforce operations

467 0 0 0 0

Building a better city - Molonglo East-West arterial road - Early planning

2 0 0 0 0

Building a better city - William Hovell Drive upgrade - Early planning

-86 0 0 0 0

Caring for our Country Complementary Investment 145 0 0 0 0Improving Our Suburbs - New Molonglo Valley Infrastructure 212 0 0 0 0Implementing Water Reform in the Murray-Darling Basin 98 0 0 0 0Loose Fill Asbestos Eradication Scheme 2,936 0 0 0 0Master Planning Program - Group Centres, Transport Corridors

and Rural Villages78 0 0 0 0

Molonglo Valley - Implementation of Commitments in the NES Plan

4 0 0 0 0

More services for our suburbs - Due diligence for urban renewal

669 0 0 0 0

Planning for our Future Transport Needs 143 0 0 0 0Securing Electricity Supply in the ACT - Second supply network -20 0 0 0 0Supporting Aboriginal and Torres Strait Islander Peoples -

Kickstarting careers by connecting to culture32 0 0 0 0

Upper Murrumbidgee Waterwatch Program 68 0 0 0 0

2018-19 Budget Review Policy Decisions Better Government - Supporting the Freedom of Information

Act 201665 132 0 0 0

More jobs for a growing city - Woden CIT campus urban renewal

100 6,526 0 0 0

More services for our suburbs - Implementing the ACT Planning Strategy

250 0 0 0 0

More services for our suburbs - Monitoring and protecting environmental offsets

59 144 148 152 157

More support for families and inclusion - Supporting local farmers

450 0 0 0 0

2019-20 Budget Policy DecisionsDue diligence to deliver a strong housing pipeline 0 1,585 500 0 0Faster processing for development applications 0 1,033 898 922 936Faster processing for heritage applications 0 121 125 128 130



Table 27: Changes to appropriation – Controlled Recurrent Payments (continued)


$'000

2019-20 Budget

$'000

2020-21 Estimate

$'000

2021-22 Estimate

$'000

2022-23 Estimate

$'000

Feasibility and infrastructure planning for future Molonglo land releases

0 835 434 0 0

Ginninderry Environmental Management Trust 0 465 479 492 507Government Office Projects: Workplace Transition 0 934 751 767 150Implementing the City Plan 0 250 0 0 0Leading the next phase of action towards a zero emissions

future - ACT Climate Change Strategy 2019-2025 and Living Infrastructure Plan

0 2,474 3,258 3,186 3,114

Managing the Sullivans Creek floodplain 0 117 158 0 0Managing the Sullivans Creek floodplain 0 -117 -158 0 0More jobs for our growing city - Ecotourism Woodlands

Learning Centre0 1,238 72 74 76

Planning framework supporting delivery of Stage 2 of Light Rail to Woden

0 200 150 0 0

Protecting grasslands and conservation areas 0 78 0 0 0Remediating the former Molonglo sewerage treatment facility 0 408 3,732 2,633 392Scoping for East Lake urban renewal 0 441 167 0 0Training ACT Government frontline workers to respond to

family violence0 5 0 1 0

2019-20 Budget Technical AdjustmentsCommonwealth Grant - Established Pest and Weed

Management42 0 0 0 0

General Savings - More jobs for our growing city - Helping homes be energy smart

0 -2,000 -1,500 0 0

New Commonwealth Grant - On-Farm Emergency Water Infrastructure Rebate Scheme

760 780 760 0 0

New Commonwealth Grant - Prepared communities 250 0 0 0 0Revised Funding Profile - Better services in your community -

Reviewing the ACT energy rating disclosure scheme-85 85 0 0 0

Revised Funding Profile - Better support when it matters - Housing Innovation Fund

-500 500 0 0 0

Revised Funding Profile - Better support when it matters - Public Housing Renewal - New and better properties

-150 150 0 0 0

Revised Funding Profile - Building a better city - Bindubi Street extension - Early planning

-25 25 0 0 0

Revised Funding Profile - Building a better city - Molonglo East-West arterial road - Early planning

-78 78 0 0 0

Revised Funding Profile - Building Audits -550 550 0 0 0Revised Funding Profile - Building Regulation Reform -200 200 0 0 0Revised Funding Profile - Implementing Water Reform in the

Murray-Darling Basin-150 150 0 0 0

Revised Funding profile - Keeping our growing city moving - Antill Street Sewer - design works

-84 84 0 0 0

Revised Funding Profile - Keeping our growing city moving - National Capital City Design Review Panel

-50 50 0 0 0

Revised Funding Profile - Loose Fill Asbestos Eradication Scheme

-2,225 2,225 0 0 0

Revised Funding Profile - Microsoft User Licensing Expansion 0 126 131 132 136Revised Funding Profile - More and better jobs - Ensuring

sustainable commercial development-100 0 100 0 0


Revised Funding Profile - More services for our suburbs - Better public places

-30 30 0 0 0


Table 27: Changes to appropriation – Controlled Recurrent Payments (continued)


$'000

2019-20 Budget

$'000

2020-21 Estimate

$'000

2021-22 Estimate

$'000

2022-23 Estimate

$'000Revised Funding Profile - More services for our suburbs -

Urban renewal in Dickson-580 580 0 0 0

Revised Funding Profile - More jobs for our growing city-Urban renewal in Kenny-early planning

-50 50 0 0 0

Revised Funding Profile - More services for our suburbs - Sullivans Creek Flood Management Plan

-75 75 0 0 0

Revised Funding Profile - More support for families and inclusion - Innovation in housing choices

-80 80 0 0 0

Revised Funding Profile - More support for families and inclusion - Innovation to boost affordable housing

-350 350 0 0 0

Revised Funding Profile - Securing Electricity Supply in the ACT - Second supply network

-125 125 0 0 0

Revised Funding Profile - Supporting Aboriginal and Torres Strait Islander Peoples - Kickstarting careers by connecting to culture

-85 85 0 0 0

Revised Funding Profile - Shared Services - Cost Model Review 0 -3,152 -3,233 -3,315 -3,398Revised Funding Profile - Threatened Species Conservation -100 100 0 0 0Revised Funding Profile - Workers’ compensation savings 0 -271 -271 -271 -271Revised Indexation Parameters 0 -112 -58 -42 1,825Superannuation contribution uplift - Controlled 0 1,171 1,163 1,167 1,182Superannuation Round Robin 0 -266 -124 -108 -10Transfer - City Centre Marketing Levy to CRA 0 -1,984 -1,987 -1,990 -1,991

2019-20 Budget 166,109 150,757 124,759 117,869 116,876


Table 28: Changes to appropriation – Expenses on Behalf of the Territory


$'000

2019-20 Budget

$'000

2020-21 Estimate

$'000

2021-22 Estimate

$'000

2022-23 Estimate

$'000

2018-19 Budget 2,209 2,279 2,113 1,975 1,975

FMA Section 16B Rollovers from 2017-18Environmental Grants 6 0 0 0 0Heritage Grants 291 0 0 0 0

2019-20 Budget Technical AdjustmentsRevised Funding Profile - State of the Environment report -300 300 0 0 0Revised Indexation Parameters 0 -6 -4 -2 36Revised Notional Superannuation Contributions 0 5 5 5 5Superannuation Reprofiling 0 2 1 1 4

2019-20 Budget 2,206 2,580 2,115 1,979 2,020


Table 29: Changes to appropriation – Capital Injections, Controlled


$'000

2019-20 Budget

$'000

2020-21 Estimate

$'000

2021-22 Estimate

$'000

2022-23 Estimate

$'000

2018-19 Budget 152,911 105,989 26,428 3,143 2,567

FMA Section 16B Rollovers from 2017-18Revised Funding Profile - Sustainable Rural Water Use and

Infrastructure Program0 -35 35 0 0

Revised Funding Profile - Better Public Housing - Karuah 342 0 0 0 0Revised Funding Profile - Better Public Housing - New public

housing properties-12,620 0 0 0 0

Revised Funding Profile - Better services in your community - Improving our capacity to fight bushfires

157 0 0 0 0

Revised Funding Profile - Better services in your community - Jarramlee Nature Reserve - Protecting our nature reserves

-10 0 0 0 0

Revised Funding Profile - Better support when it matters - Public Housing Renewal - New and better properties

10,844 0 0 0 0

Revised Funding Profile - Better support when it matters - Public Housing Renewal - Taskforce operations

-42 0 0 0 0

Revised Funding Profile - Carbon Neutral Government 2,033 0 0 0 0Revised Funding Profile - Caring for our Environment -

Establishing the Molonglo River Reserve Stage 31 0 0 0 0

Revised Funding Profile - Caring for our Environment - Improving species and habitat protection

492 0 0 0 0

Revised Funding Profile - Caring for our Environment - Tharwa fish habitat improvement

8 0 0 0 0

Revised Funding Profile - Digital Canberra - New digital radio communication system

92 0 0 0 0

Revised Funding Profile - Enhancing the Protection of Endangered Species and Habitat

-1,082 0 0 0 0

Revised Funding Profile - Environmental Offsets - Gungahlin (EPIC)

38 0 0 0 0

Revised Funding Profile - Environmental Offsets - Lawson South

-33 0 0 0 0

Revised Funding Profile - Implementation of Commitments in the NES Plan - Stage 2

-68 0 0 0 0

Revised Funding Profile - Improving Our City - Woden bus interchange improvements

-119 0 0 0 0


107 0 0 0 0

Revised Funding Profile - More and better jobs - Ensuring continuity of the Spatial Data Management System

137 0 0 0 0

Revised Funding Profile - Red Hill Nature Reserve Remediation 10 0 0 0 0Revised Funding Profile - Support for Building Industry -

eDevelopment Renovation Project 1118 0 0 0 0

Revised Funding Profile - Urban Renewal Program - Better Public Housing - Allawah Court

446 0 0 0 0

Revised Funding Profile - Urban Renewal Program - Better Public Housing - Red Hill housing precinct

1,030 0 0 0 0

Revised Funding Profile - Woden Valley Stormwater Retardation Basins (Design)

153 0 0 0 0

2019-20 Budget Policy DecisionsDelivering better community facilities for Woden Town Centre 0 300 1,450 0 0Improving online lodgement for development applications 0 600 0 0 0Protecting grasslands and conservation areas 0 199 399 200 0Remediating the former Molonglo sewerage treatment facility 0 0 0 1,498 1,115



Table 29: Changes to appropriation – Capital Injections, Controlled (continued)


$'000

2019-20 Budget

$'000

2020-21 Estimate

$'000

2021-22 Estimate

$'000

2022-23 Estimate

$'000

Replanting the Ingledene Forest 0 186 680 454 414

2019-20 Budget Technical AdjustmentsBetter Infrastructure Fund 0 765 1,025 1,051 1,104New Commonwealth Grant - Murray-Darling Basin water

infrastructure program0 200 10,500 10,000 0

Re-Profiling - Healthy Waterways ACT Contribution 0 -500 500 0 0Revised Funding Profile - Better services in your community -

Red Hill Nature Reserve - Landfill remediation-305 305 0 0 0


-6,925 6,925 0 0 0

Revised Funding Profile - Better services in your community - Improving our capacity to fight bushfires

-550 550 0 0 0

Revised Funding Profile - Caring for our Environment - Water Quality Improvement - Contributions to the ACT Healthy Waterways Project

-2,600 1,300 1,300 0 0

Revised Funding Profile - Establishing the Molonglo River Reserve

-200 100 100 0 0

Revised Funding Profile - Sustainable Rural Water Use and Infrastructure Program

-1,269 600 669 0 0

Strategic re-profiling of the 2019-20 Capital Works Program 0 -60,000 17,000 43,000 0

2019-20 Budget 143,096 57,484 60,086 59,346 5,200


Table 30: Changes to appropriation – Capital Injections, Territorial


$'000

2019-20 Budget

$'000

2020-21 Estimate

$'000

2021-22 Estimate

$'000

2022-23 Estimate

$'000

2018-19 Budget 4 0 0 0 0

2019-20 Budget 4 0 0 0 0


Summary of 2019-20 Infrastructure Program

Table 31: 2019-20 Environment, Planning and Sustainable Development Directorate Infrastructure Program

Project 2019-20$'000

2020-21$'000

2021-22$'000

2022-23$'000

Four YearInvestment

$'000

PhysicalCompletion

Date

CAPITAL WORKS PROGRAM

Work In ProgressBetter Public Housing - New public

housing properties8,024 17,000 43,000 0 68,024 Oct-19

Better services in your community - Improving our capacity to fight bushfires

980 0 0 0 980 Jun-20

Better services in your community - Red Hill Nature Reserve - Landfill remediation

305 0 0 0 305 Jun-20

Better support when it matters - Public Housing Renewal - Karuah

3,000 0 0 0 3,000 Oct-19

Better support when it matters - Public Housing Renewal - New and better properties

4,008 0 0 0 4,008 Oct-19

Better support when it matters - Public Housing Renewal - Taskforce operations

85 0 0 0 85 Oct-19

Building a better city - Bindubi Street extension - Early planning

125 0 0 0 125 Aug-19

Building a better city - Molonglo East-West arterial road - Early planning

278 0 0 0 278 Jun-20

Caring for our Environment - Improving species and habitat protection

257 72 72 0 401 Jun-22

Caring for our environment - Water Quality Improvement - Contributions to the ACT Healthy Waterways Project

800 1,800 0 0 2,600 Jun-21

Keeping our growing city moving - Best of Canberra mountain bike experience - Design

300 0 0 0 300 Jun-20

More and better jobs - Ensuring continuity of the Spatial Data Management System

300 0 0 0 300 Jun-20

More jobs for our growing city - Delivering a new nature reserve in the Molonglo Valley - NES Plan Implementation Stage 3

900 934 504 0 2,338 Jun-22

More jobs for our growing city - Urban renewal in Dickson

580 0 0 0 580 Jun-20

More jobs for our growing city - Urban renewal in Kenny - early planning

300 0 0 0 300 Jun-20

More services for our suburbs - Equestrian infrastructure

250 0 0 0 250 Jun-20

More services for our suburbs - Improved conversation management

232 65 0 0 297 Jun-21

More services for our suburbs - Sullivans Creek Flood Management Plan

75 0 0 0 75 Dec-19



Table 31: 2019-20 Environment, Planning and Sustainable Development Directorate Infrastructure Program (continued)

Project 2019-20$'000

2020-21$'000

2021-22$'000

2022-23$'000

Four YearInvestment

$'000

PhysicalCompletion

Date

More support for families and inclusion - Innovation in housing choices

430 125 0 0 555 Jun-21

Securing Electricity Supply in the ACT - Second supply network

125 0 0 0 125 Jun-20

Support for Building Industry - eDevelopment Renovation Project 1

600 0 0 0 600 Jun-20

Total Work In Progress 21,954 19,996 43,576 0 85,526


New WorkDelivering better community facilities for

Woden Town Centre300 1,450 0 0 1,750 Jun-21

Feasibility and infrastructure planning for future Molonglo land releases

835 434 0 0 1,269 Jun-21

Improving online lodgement for development applications

600 0 0 0 600 Jun-20

Protecting grasslands and conservation areas

199 399 200 0 798 Jun-22

Remediating the former Molonglo sewerage treatment facility

0 0 1,498 1,115 2,613 Jun-23

Replanting the Ingledene Forest 186 680 454 414 1,734 Jun-23Scoping for East Lake urban renewal 441 167 0 0 608 Jun-21

Total New Capital 2,561 3,130 2,152 1,529 9,372


Better Infrastructure FundBetter Infrastructure Funds 715 733 751 786 2,985 Jun-20Prior Year Upgrades 310 318 326 318 1,272 Jun-20

Total Capital Upgrade Programs 1,025 1,051 1,077 1,104 4,257


Financial Statements – Controlled

Table 32: Environment, Planning and Sustainable Development Directorate: Operating Statement

2018-19 Budget

$'000


$'000

2019-20 Budget

$'000

Var1

%2020-21

Estimate

$'000

2021-22 Estimate

$'000

2022-23 Estimate

$'000

Income

Revenue133,079 Controlled Recurrent

Payments166,109 150,757 -9 124,759 117,869 116,876

31,272 Land Revenue 26,194 15,856 -39 12,674 0 029 Taxes, Fees and Fines 29 29 - 29 30 31

31,288 User Charges 31,288 12,881 -59 11,803 9,630 9,943440 Interest 440 148 -66 91 92 93

2,358 Resources Received Free of Charge

2,358 4,208 78 4,351 4,459 4,505

2,364 Other Revenue 70,600 2,810 -96 3,318 1,704 1,762

200,830 Total Revenue 297,018 186,689 -37 157,025 133,784 133,210

Gains

0 Total Gains 0 0 - 0 0 0

200,830 Total Income 297,018 186,689 -37 157,025 133,784 133,210

Expenses 65,651 Employee Expenses 65,641 68,369 4 68,408 65,941 66,233

9,616 Superannuation Expenses 9,629 10,964 14 11,461 11,703 11,90368,180 Supplies and Services 99,120 69,024 -30 56,028 50,968 49,759

3,123 Depreciation and Amortisation

4,998 5,129 3 5,849 5,893 5,927

10,508 Grants and Purchased Services

11,658 9,867 -15 7,802 1,656 1,737

13,506 Cost of Goods Sold 13,506 207 -98 207 208 2080 Borrowing Costs 33 33 - 33 33 33

6,894 Other Expenses 9,760 6,375 -35 7,153 2,396 2,45532,300 Transfer Expenses 30,894 16,917 -45 13,772 1,136 1,176

209,778 Total Expenses 245,239 186,885 -24 170,713 139,934 139,431

-8,948 Operating Result 51,779 -196 -100 -13,688 -6,150 -6,221

-8,948 Total Comprehensive Income

51,779 -196 -100 -13,688 -6,150 -6,221

1. “–“ denotes “nil”. “..” denotes that the figure rounds to zero. “#” denotes a result over 999%.


Table 33: Environment, Planning and Sustainable Development Directorate: Balance Sheet

Budgetat

30/6/19 $'000


$'000

Budgetat

30/6/20 $'000

Var1

%Estimate

at30/6/21

$'000

Estimateat

30/6/22 $'000

Estimateat

30/6/23 $'000

Current Assets103,834 Cash and Cash Equivalents 126,184 126,824 1 128,990 122,554 116,118

5,139 Receivables 10,209 10,129 -1 10,230 10,331 10,43275 Inventories 112 112 - 112 112 112

7,901 Assets Held for Sale 23,246 20,457 -12 0 0 0145 Other Assets 137 0 -100 0 0 0

117,094 Total Current Assets 159,888 157,522 -1 139,332 132,997 126,662

Non Current Assets5,774 Receivables 5,383 4,584 -15 3,953 3,322 2,691

286,616 Property, Plant and Equipment

190,801 207,128 9 213,618 210,138 205,790

106,637 Intangible Assets 160,361 160,032 .. 162,242 161,424 160,60648,065 Capital Works in Progress 87,255 86,198 -1 117,737 174,627 178,20529,917 Other Assets 29,769 29,769 - 29,769 29,769 29,769

477,009 Total Non Current Assets 473,569 487,711 3 527,319 579,280 577,061

594,103 TOTAL ASSETS 633,457 645,233 2 666,651 712,277 703,723

Current Liabilities23,021 Payables 26,829 26,927 .. 21,971 13,068 4,165

0 Finance Leases 333 333 - 333 333 33321,803 Employee Benefits 23,245 24,453 5 25,713 27,005 28,33431,550 Other Provisions 42,734 19,627 -54 0 0 0

2,753 Other Liabilities 2,339 2,325 -1 2,311 2,297 2,283

79,127 Total Current Liabilities 95,480 73,665 -23 50,328 42,703 35,115

Non Current Liabilities0 Finance Leases 359 359 - 359 359 359

1,053 Employee Benefits 1,101 1,157 5 1,214 1,271 1,32817,091 Other Provisions 1,698 1,698 - 0 0 0

18,144 Total Non Current Liabilities 3,158 3,214 2 1,573 1,630 1,687

97,271 TOTAL LIABILITIES 98,638 76,879 -22 51,901 44,333 36,802

496,832 NET ASSETS 534,819 568,354 6 614,750 667,944 666,921

364,904 Accumulated Funds 455,230 488,765 7 535,161 588,355 587,332131,928 Asset Revaluation Surplus 79,589 79,589 - 79,589 79,589 79,589

496,832 TOTAL FUNDS EMPLOYED 534,819 568,354 6 614,750 667,944 666,921




Table 34: Environment, Planning and Sustainable Development Directorate: Statement of Changes in Equity

Budgetat

30/6/19 $'000


$'000

Budgetat

30/6/20 $'000

Var1

%Estimate

at30/6/21

$'000

Estimateat

30/6/22 $'000

Estimateat

30/6/23 $'000

Opening Equity492,533 Opening Accumulated Funds 555,181 455,230 -18 488,765 535,161 588,355131,928 Opening Asset Revaluation

Reserve79,589 79,589 - 79,589 79,589 79,589

624,461 Balance at the Start of the Reporting Period

634,770 534,819 -16 568,354 614,750 667,944

Comprehensive Income-8,948 Operating Result - Including

Economic Flows51,779 -196 -100 -13,688 -6,150 -6,221


51,779 -196 -100 -13,688 -6,150 -6,221

0 Total Movement in Reserves 0 0 - 0 0 0

Transactions Involving Owners Affecting Accumulated Funds152,911 Capital Injections 143,096 57,484 -60 60,086 59,346 5,200

-105,388 Capital Distributions to Government

-128,622 -7,922 94 0 0 0

-166,204 Inc/Dec in Net Assets due to Admin Restructure

-166,204 -15,831 90 -2 -2 -2

-118,681 Total Transactions Involving Owners Affecting Accumulated Funds

-151,730 33,731 122 60,084 59,344 5,198

Closing Equity364,904 Closing Accumulated Funds 455,230 488,765 7 535,161 588,355 587,332131,928 Closing Asset Revaluation

Reserve79,589 79,589 - 79,589 79,589 79,589

496,832 Balance at the end of the Reporting Period

534,819 568,354 6 614,750 667,944 666,921



Table 35: Environment, Planning and Sustainable Development Directorate: Cash Flow Statement

2018-19 Budget

$'000


$'000

2019-20 Budget

$'000

Var1

%2020-21

Estimate

$'000

2021-22 Estimate

$'000

2022-23 Estimate

$'000

CASH FLOWS FROM OPERATING ACTIVITIESReceipts

133,079 Controlled Recurrent Payments

166,109 150,757 -9 124,759 117,869 116,876

29 Taxes, Fees and Fines 29 29 - 29 30 3131,650 User Charges 31,650 13,243 -58 12,165 9,992 10,305

440 Interest Received 440 148 -66 91 92 934,467 Other 4,467 4,913 10 5,421 3,807 3,865

169 665 Operating Receipts 202,695 169,090 -17 142,465 131,790 131,170

Payments64,716 Employee 64,294 67,064 4 67,296 64,797 65,052

9,620 Superannuation 9,633 10,968 14 11,518 11,760 11,96067,117 Supplies and Services 62,687 66,136 6 53,021 47,853 46,59810,533 Grants and Purchased

Services11,683 9,892 -15 7,827 1,681 1,762

0 Interest Expenses 33 33 - 33 33 3332,300 Transfer of Territory Receipts

to the ACT Government20,894 16,917 -19 13,772 1,136 1,176

206 Related to Cost of Goods Sold 8,850 18,371 108 20,995 208 2087,979 Other 10,845 7,440 -31 8,218 12,131 12,190

192,471 Operating Payments 188,919 196,821 4 182,680 139,599 138,979

-22,806 NET CASH INFLOW/(OUTFLOW) FROM OPERATING ACTIVITIES

13,776 -27,731 -301 -40,215 -7,809 -7,809

CASH FLOWS FROM INVESTING ACTIVITIESReceipts

136,660 Proceeds from Sale of Property, Plant and Equipment

94,856 46,614 -51 45,898 0 0

1,664 Repayment of Loan Principal 1,664 1,827 10 1,478 1,478 1,478138,324 Investing Receipts 96,520 48,441 -50 47,376 1,478 1,478

Payments136,677 Purchase of Property, Plant

and Equipment100,410 23,464 -77 35,615 57,856 3,710

12,135 Purchase of Land and Intangibles

7,423 44,573 500 27,871 0 0

413 Loans Provided (Loans Receivable)

2,446 920 -62 920 920 920

149,225 Investing Payments 110,279 68,957 -37 64,406 58,776 4,630

-10,901 NET CASH INFLOW/(OUTFLOW) FROM INVESTING ACTIVITIES

-13,759 -20,516 -49 -17,030 -57,298 -3,152



Table 35: Environment, Planning and Sustainable Development Directorate: Cash Flow Statement (continued)

2018-19 Budget

$'000


$'000

2019-20 Budget

$'000

Var1

%2020-21

Estimate

$'000

2021-22 Estimate

$'000

2022-23 Estimate

$'000

CASH FLOWS FROM FINANCING ACTIVITIESReceipts

152 911 Capital Injections 143,096 57,484 -60 60,086 59,346 5,200152 911 Financing Receipts 143,096 57,484 -60 60,086 59,346 5,200

Payments105 388 Distributions to Government 128,622 7,922 -94 0 0 0

0 Repayment of Finance Lease Liabilities

675 675 - 675 675 675

105 388 Financing Payments 129,297 8,597 -93 675 675 675

47 523 NET CASH INFLOW/(OUTFLOW) FROM FINANCING ACTIVITIES

13,799 48,887 254 59,411 58,671 4,525

13 816 NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS

13,816 640 -95 2,166 -6,436 -6,436

90 018 CASH AT THE BEGINNING OF REPORTING PERIOD

112,368 126,184 12 126,824 128,990 122,554

103 834 CASH AT THE END OF REPORTING PERIOD

126,184 126,824 1 128,990 122,554 116,118



Notes to the Controlled Budget Statements

Significant variations are as follows:

Operating Statement

controlled recurrent payments:

- the increase of $33.030 million in the 2018-19 estimated outcome from the original budget is mainly due to rollover of undisbursed appropriation under Section 16B of FMA due to the timing of delivery of the Public Housing Renewal Taskforce ($31.712 million).

- the decrease of $15.352 million in the 2019-20 Budget from the 2018-19 estimated outcome is mainly due to the funding available for the Public Housing Taskforce decreasing as the program is nearing completion ($38.150 million) and transfer of the City Centre Marketing and Improvements Levy ($1.984 million) to the City Renewal Authority, partially offset by Loose-Fill Asbestos Insulation Eradication Scheme ($10.150 million), as well as movement in existing and new initiatives ($14.632 million).

land revenue:

- the decrease of $5.078 million in the 2018-19 estimated outcome from the original budget is mainly due to below forecast sales in 2018-19 including delayed settlement of remediated land under the Loose-Fill Asbestos Insulation Eradication Scheme as a result of the longer settlement timeframes granted to accommodate tighter lending guidelines.

- the decrease of $10.338 million in the 2019-20 Budget from the 2018-19 estimated outcome is mainly due to the decrease in the number of sales of remediated land under the Loose-Fill Asbestos Insulation Eradication Scheme as the program nears completion. The timing of the revenue in 2019-20 has been impacted by the below forecast sales in 2018-19 now budgeted in 2019-20 and forward years including the timing of settlement of remediated land as a result of the longer settlement timeframes granted to accommodate tighter lending guidelines.

user charges:

- the decrease of $18.407 million in the 2019-20 Budget from the 2018-19 estimated outcome is mainly due to the sale proceeds of 33 dwellings to the market by the Public Housing Renewal Taskforce in the 2018-19 financial year.

other revenue:

- the increase of $68.236 million in the 2018-19 estimated outcome from the original budget is mainly due to the recognition of additional Large Scale Generation Certificates to be transferred by large scale generators of electricity under the Renewable Energy Target Scheme.


- the decrease of $67.790 million in the 2019-20 Budget from the 2018-19 estimated outcome is mainly due to the Large Scale Generation Certificates not being recognised in the Directorate’s Budget Statements in 2019-20. The 2019-20 budget has been included in the whole of government Budget Statements.

employee expenses:

- the increase of $2.728 million in the 2019-20 Budget from the 2018-19 estimated outcome is mainly due to movement in staffing related to existing and new initiatives.

supplies and services:

- the increase of $30.940 million in the 2018-19 estimated outcome from the original budget is mainly due to rollover of funding due to the timing of delivery of the Public Housing Renewal Taskforce.

- the decrease of $30.096 million in the 2019-20 Budget from the 2018-19 estimated outcome is due to the funding available for the Public Housing Taskforce decreasing as the program is nearing completion.

depreciation

- the increase of $1.875 million in the 2018-19 estimated outcome from the original budget is mainly due to asset revaluation resulting in reduction of asset useful lives.

grants and purchased services:

- the increase of $1.150 million in the 2018-19 estimated outcome from the original budget is mainly due to a new Commonwealth grant for the On-Farm Emergency Water Infrastructure Rebate Scheme and a support package for local farmers.

- the decrease of $1.791 million in the 2019-20 Budget from the 2018-19 estimated outcome is mainly due to the transfer of the City Centre Marketing and Improvements Levy to the City Renewal Authority ($1.984 million).

cost of goods sold:

- the decrease of $13.299 million in the 2019-20 Budget from the 2018-19 estimated outcome is mainly due to the cost of the dwellings to be sold by the Public Housing Renewal Taskforce.

other expenses:

- the increase of $2.866 million in the 2018-19 estimated outcome from the original budget is mainly due to payments originally expected to be made in 2017-18, paid in 2018-19 under the Loose-Fill Asbestos Insulation Eradication Scheme.


- the decrease of $3.385 million in the 2019-20 Budget from the 2018-19 estimated outcome is primarily due to a decrease in agents’ fees and financial assistance payments under the Loose-Fill Asbestos Insulation Eradication Scheme.

transfer expenses:

- the decrease of $1.406 million in the 2018-19 estimated outcome from the original budget is due to an decrease in sales under the Loose-fill Asbestos Insulation Eradication Scheme being paid back to Government.

- the decrease of $13.977 million in the 2019-20 Budget from the 2018-19 estimated outcome is due the lower land sales under the Loose-Fill Asbestos Insulation Eradication Scheme being paid back to Government.

Balance Sheet

cash and equivalents:

- the increase of $22.350 million in the 2018-19 estimated outcome from the original budget is mainly due to the cash received from the Renewable Energy Innovation Fund, the Commonwealth’s ACT Healthy Waterways program and the additional money available under the Carbon Neutral Government loan fund.

- the increase of $0.640 million in the 2019-20 Budget from the 2018-19 estimated outcome is mainly due to the cash received from the Renewable Energy Innovation Fund and the additional money available under the Carbon Neutral Government loan fund.

current and non-current receivables:

- the increase of $4.679 million in the 2018-19 estimated outcome from the original budget is mainly due to new Carbon Neutral Government loans.

- the decrease of $0.879 million in the 2019-20 Budget from the 2018-19 estimated outcome is mainly due to the repayment of the Carbon Neutral Government loans.

assets held for sale:

- the increase of $15.345 million in the 2018-19 estimated outcome from the original budget is due to the higher number of blocks held for sale under the Loose-Fill Asbestos Insulation Eradication Scheme.

- the decrease of $2.789 million in the 2019-20 Budget from the 2018-19 estimated outcome is due to a lower number of blocks held following sale of land under the Loose-Fill Asbestos Insulation Eradication Scheme as the program winds down.


property, plant and equipment:

- the decrease of $95.815 million in the 2018-19 estimated outcome from the original budget is due primarily to a reduction in the value of infrastructure assets ($22.989 million) and heritage and community assets ($23.938 million) resulting from asset revaluation in the 2017-18 financial year being reflected in the 2018-19 estimated outcome. A further reduction relates to land transferred to assets held for sale under the Loose-Fill Asbestos Insulation Eradication Scheme ($40.209 million).

- the increase of $16.327 million in the 2019-20 Budget from the 2018-19 estimated outcome is primarily due to further movements in land values under the Loose-Fill Asbestos Insulation Eradication Scheme and a budgeted increase in the value of infrastructure assets.

intangible assets:

- the increase of $53.724 million in the 2018-19 estimated outcome from the original budget is due primarily to the additional Large Scale Generation Certificates received as part of the Renewable Energy Target Scheme.

capital works in progress:

- the increase of $39.190 million in the 2018-19 estimated outcome from the original budget is mainly due to the timing of financial completion of capital works associated with the Public Housing Renewal Taskforce.

- the decrease of $1.057 million in the 2019-20 Budget from the 2018-19 estimated outcome is mainly due to the timing of financial completion of capital works associated with the Public Housing Renewal Taskforce.

payables:

- the increase of $3.808 million in the 2018-19 estimated outcome from the original budget is due to an increase in accrued expenditure at the end of the financial year.

other provisions:

- the decrease of $4.209 million in the 2018-19 estimated outcome from the original budget relates to the decrease in the value of the provisions associated with the Loose-Fill Asbestos Insulation Eradication Scheme.

- the decrease of $23.107 million in the 2019-20 Budget from the 2018-19 estimated outcome is mainly due to a decrease in the value of the provisions associated with the Loose-Fill Asbestos Insulation Eradication Scheme as the majority of property remediation is expected to be completed.


other liabilities:

- the decrease of $0.414 million in the 2018-19 estimated outcome from the original budget is due to a reduction in the sales deposits held under the Loose-Fill Asbestos Insulation Eradication Scheme.

Statement of Changes in Equity

capital injections:

- the decrease of $9.815 million in the 2018-19 estimated outcome from the original budget is mainly due to the timing of funding requirements for delivery of the Loose-Fill Asbestos Insulation Eradication Scheme, ACT Healthy Water Ways, Parks and Conservation capital projects and Carbon Neutral Government.

- the decrease of $85.612 million in the 2019-20 Budget from the 2018-19 estimated outcome is mainly due to the timing of funding associated with the Public Housing Renewal Taskforce and the capital works program.

Cash Flow Statement

Variations in the Statement are explained in the notes above.


Financial Statements – Territorial

Table 36: Environment, Planning and Sustainable Development Directorate: Statement of Income and Expenses on behalf of the Territory

2018-19 Budget

$'000


$'000

2019-20 Budget

$'000

Var1

%2020-21

Estimate

$'000

2021-22 Estimate

$'000

2022-23 Estimate

$'000

Revenue2 209 Payment for Expenses on

Behalf of the Territory2 206 2 580 17 2 115 1 979 2 020

29 150 Taxes, Fees and Fines 14 479 10 489 -28 9 891 8 370 8 76252 171 Land Revenue 35 043 46 624 33 41 546 41 470 20 434

2 847 Interest 1 635 2 138 31 1 750 2 249 1 162

86 377 Total Revenue 53 363 61 831 16 55 302 54 068 32 378

Gains

86 377 Total Income 53 363 61 831 16 55 302 54 068 32 378

Expenses 854 Employee Expenses 857 876 2 900 922 933102 Superannuation Expenses 102 114 12 121 124 128714 Supplies and Services 414 1 035 150 538 550 562541 Grants and Purchased

Services838 560 -33 561 560 574

3 950 Other Expenses 3 950 3 397 -14 2 398 0 080 218 Transfer Expenses 47 207 55 851 18 50 787 51 914 30 183

86 379 Total Expenses 53 368 61 833 16 55 305 54 070 32 380

-2 Operating Result -5 -2 60 -3 -2 -2

Other Comprehensive Income

Items that will not be Reclassified Subsequently to Profit or Loss0 Total Other Comprehensive

Income0 0 - 0 0 0

-2 Total Comprehensive Income

-5 -2 60 -3 -2 -2



Table 37: Environment, Planning and Sustainable Development Directorate: Statement of Assets and Liabilities on behalf of the Territory

Budgetat

30/6/19 $'000


$'000

Budgetat

30/6/20 $'000

Var1

%Estimate

at30/6/21

$'000

Estimateat

30/6/22 $'000

Estimateat

30/6/23 $'000

Current Assets1,855 Cash and Cash Equivalents 1 636 1 603 -2 1 570 1 537 1 504

79,347 Receivables 44 396 44 671 1 44 946 45 221 45 495133 Inventories 133 133 - 133 133 133

81,335 Total Current Assets 46 165 46 407 1 46 649 46 891 47 132

Non Current Assets1,217 Receivables 889 995 12 1 101 1 207 1 313


67 359 67 359 - 67 359 67 359 67 359

77,278 Total Non Current Assets 68 248 68 354 .. 68 460 68 566 68 672

158,613 TOTAL ASSETS 114 413 114 761 .. 115 109 115 457 115 804

Current Liabilities31,583 Payables 43 959 44 186 .. 44 413 44 640 44 867

163 Employee Benefits 153 160 5 168 175 18149,097 Other Liabilities 1 330 1 335 .. 1 340 1 345 1 350

80,843 Total Current Liabilities 45 442 45 681 1 45 921 46 160 46 398

Non Current Liabilities222 Payables 894 1 005 12 1 116 1 227 1 338

3 Employee Benefits 20 20 - 20 20 201,005 Other Liabilities 0 0 - 0 0 0

1,230 Total Non Current Liabilities 914 1 025 12 1 136 1 247 1 358

82,073 TOTAL LIABILITIES 46 356 46 706 1 47 057 47 407 47 756

76,540 NET ASSETS 68 057 68 055 .. 68 052 68 050 68 048

REPRESENTED BY FUNDS EMPLOYED

34,043 Accumulated Funds 34 262 34 260 .. 34 257 34 255 34 25342,497 Asset Revaluation Surplus 33 795 33 795 - 33 795 33 795 33 795

76,540 TOTAL FUNDS EMPLOYED 68 057 68 055 .. 68 052 68 050 68 048



Table 38: Environment, Planning and Sustainable Development Directorate: Statement of Changes in Equity on behalf of the Territory

Budgetat

30/6/19 $'000


$'000

Budgetat

30/6/20 $'000

Var1

%Estimate

at30/6/21

$'000

Estimateat

30/6/22 $'000

Estimateat

30/6/23 $'000

Opening Equity34 041 Opening Accumulated Funds 34 263 34 262 .. 34 260 34 257 34 25542 497 Opening Asset Revaluation

Reserve33 795 33 795 - 33 795 33 795 33 795

76 538 Balance at the Start of the Reporting Period

68 058 68 057 .. 68 055 68 052 68 050

Comprehensive Income-2 Operating Result - Including

Economic Flows-5 -2 60 -3 -2 -2

-2 Total Comprehensive Income

-5 -2 60 -3 -2 -2


Transactions Involving Owners Affecting Accumulated Funds

4 Capital Injections 4 0 -100 0 0 0

4 Total Transactions Involving Owners Affecting Accumulated Funds

4 0 -100 0 0 0

Closing Equity34 043 Closing Accumulated Funds 34,262 34,260 .. 34,257 34,255 34,25342 497 Closing Asset Revaluation

Reserve33,795 33,795 - 33,795 33,795 33,795

76 540 Balance at the end of the Reporting Period

68,057 68,055 .. 68,052 68,050 68,048



Table 39: Environment, Planning and Sustainable Development Directorate: Cash Flow Statement on behalf of the Territory

2018-19 Budget

$'000


$'000

2019-20 Budget

$'000

Var1

%2020-21

Estimate

$'000

2021-22 Estimate

$'000

2022-23 Estimate

$'000


2 209 Payment for Expenses on Behalf of the Territory

2 206 2 580 17 2 115 1 979 2 020

29 150 Taxes, Fees and Fines 14 479 10 489 -28 9 891 8 370 8 7622 847 Interest Received 1 635 2 138 31 1 750 2 249 1 162

47 204 Land Sales 34 256 45 518 33 36 797 36 563 12 5985 139 Other 5 139 5 278 3 5 421 5 579 5 579

86 549 Operating Receipts 57 715 66 003 14 55 974 54 740 30 121

Payments856 Employee 856 874 2 897 920 931102 Superannuation 102 114 12 121 124 128914 Supplies and Services 614 1 235 101 738 750 762541 Grants and Purchased

Services838 560 -33 561 560 574

80 218 Transfer of Territory Receipts to the ACT Government

51 387 59 851 16 51 287 52 414 27 754

3 955 Other 3 955 3 402 -14 2 403 5 586 586 Operating Payments 57 752 66 036 14 56 007 54 773 30 154

-37 NET CASH INFLOW/(OUTFLOW) FROM OPERATING ACTIVITIES

-37 -33 11 -33 -33 -33


4 Capital Injections 4 0 -100 0 0 04 Financing Receipts 4 0 -100 0 0 0

Payments0 Financing Payments 0 0 - 0 0 0

4 NET CASH INFLOW/(OUTFLOW) FROM FINANCING ACTIVITIES

4 0 -100 0 0 0

-33 NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS

-33 -33 - -33 -33 -33

1 888 CASH AT THE BEGINNING OF REPORTING PERIOD

1,669 1,636 -2 1,603 1,570 1,537

1 855 CASH AT THE END OF REPORTING PERIOD

1,636 1,603 -2 1,570 1,537 1,504



Notes to the Territorial Budget Statements


Statement of Income and Expenses on behalf of the Territory

taxes, fees and fines:

- the decrease of $14.671 million in the 2018-19 estimated outcome from the original budget and the decrease of $3.990 million in the 2019-20 Budget from the 2018-19 estimated outcome is mainly due to a decrease in the estimate for the lease variation charge.

land revenue:

- the decrease of $17.128 million in the 2018-19 estimated outcome from the original budget and the increase of $11.581 million in the 2019-20 Budget from the 2018-19 estimated outcome is mainly due to timing of the land release program.

interest revenue:

- the decrease of $1.212 million in the 2018-19 estimated outcome from the original budget and the increase of $0.503 million in the 2019-20 Budget from the 2018-19 estimated outcome is mainly due to timing of the land release program.


- the decrease of $0.300 million in the 2018-19 estimated outcome from the original budget and the increase of $0.621 million in the 2019-20 Budget from the 2018-19 estimated outcome is mainly due to the timing of expenditure associated with the State of the Environment Report.

grants and purchased services:

- the increase of $0.297 million in the 2018-19 estimated outcome from the original budget and the decrease of $0.278 million in the 2019-20 Budget from the 2018-19 estimated outcome is mainly due to the timing of Heritage Grants expenditure associated with Heritage Grants.

transfer expenses:

- variations in these expenses reflect the variations in revenues described above.

Statement of Assets and Liabilities on behalf of the Territory

cash and equivalents:


- the decrease of $0.219 million in the 2018-19 estimated outcome from the original budget is mainly due to the flow-on effects of the 2017-18 financial results.

current and non-current receivables:

- the decrease of $35.279 million in the 2018-19 estimated outcome from the original budget is mainly due to the timing of receipts for the sale of land under the land release program to the Suburban Land Agency and the City Renewal Authority.


- the decrease of $8.702 million in the 2018-19 estimated outcome from the original budget is mainly due to the revaluation of land as a result of a change in the 10-year Government bond rate.

current and non-current liabilities:

- the decrease of $35.717 million in the 2018-19 estimated outcome from the original budget and the increase of $0.350 million in the 2019-20 Budget from the 2018-19 estimated outcome is mainly due to the timing of payments back to Government for land revenue.

Statement of Changes in Equity and Cash Flow Statement

Variations in the Statement are explained in the notes above.


Table 40: Output Class 1: Planning Operating Statement

2018-19 Budget

$'000


$'000

2019-20 Budget

$'000

Var1

%2020-21

Estimate

$'000

2021-22 Estimate

$'000

2022-23 Estimate

$'000

Revenue27 319 Controlled Recurrent

Payments27,003 31,362 16 26,706 25,995 26,252

2 704 User Charges 2,704 2,791 3 2,903 3,015 3,1131 266 Resources Received Free of

Charge1,266 1,844 46 1,911 1,958 1,972

70 Other Revenue 60 983 # 1,020 998 1,038

31 359 Total Revenue 31,033 36,980 19 32,540 31,966 32,375

31 359 Total Income 31,033 36,980 19 32,540 31,966 32,375

Expenses 17 777 Employee Expenses 17,415 19,300 11 18,257 18,735 18,839

2 875 Superannuation Expenses 2,885 3,276 14 3,318 3,595 3,67411 137 Supplies and Services 11,253 13,647 21 10,368 8,841 9,029

151 Depreciation and Amortisation

117 149 27 644 655 658

368 Other Expenses 368 330 -10 341 353 3610 Transfer Expenses 0 923 # 960 998 1,038

32 308 Total Ordinary Expenses 32,038 37,625 17 33,888 33,177 33,599

-949 Operating Result -1,005 -645 36 -1,348 -1,211 -1,224



Table 41: Output Class 2: Environment Operating Statement

2018-19 Budget

$'000


$'000

2019-20 Budget

$'000

Var1

%2020-21

Estimate

$'000

2021-22 Estimate

$'000

2022-23 Estimate

$'000


Payments54,212 54,683 1 57,485 57,198 55,758

29 Taxes, Fees and Fines 29 29 - 29 30 316 634 User Charges 6,634 6,693 1 6,504 6,615 6,830

440 Interest 440 148 -66 91 92 93467 Resources Received Free of

Charge467 1,368 193 1,410 1,445 1,468

364 Other Revenue 374 184 -51 659 706 724

60 496 Total Revenue 62,156 63,105 2 66,178 66,086 64,904

Gains


60 496 Total Income 62,156 63,105 2 66,178 66,086 64,904


4 182 Superannuation Expenses 4,185 4,859 16 5,136 5,580 5,71428 227 Supplies and Services 28,066 26,892 -4 30,486 29,878 28,321

2 844 Depreciation and Amortisation

4,753 4,852 2 5,082 5,168 5,199

393 Grants and Purchased Services

1,543 2,613 69 1,467 787 810

206 Cost of Goods Sold 206 207 .. 207 208 2080 Borrowing Costs 33 33 - 33 33 33

691 Other Expenses 621 479 -23 438 452 4630 Transfer Expenses 0 138 # 138 138 138


-2 934 Operating Result -4,303 -4,723 -10 -4,953 -4,227 -4,274



Table 42: Output Class 3: Climate Change and Sustainability Operating Statement

2018-19 Budget

$'000


$'000

2019-20 Budget

$'000

Var1

%2020-21

Estimate

$'000

2021-22 Estimate

$'000

2022-23 Estimate

$'000


Payments12,602 14,176 12 15,157 17,723 17,776

3 950 User Charges 3,950 3,397 -14 2,396 0 0625 Resources Received Free of

Charge625 856 37 887 909 914

1 930 Other Revenue 70,166 1,643 -98 1,639 0 0

19 068 Total Revenue 87,343 20,072 -77 20,079 18,632 18,690

Gains


19 068 Total Income 87,343 20,072 -77 20,079 18,632 18,690


991 Superannuation Expenses 991 1,138 15 1,246 1,312 1,33410 855 Supplies and Services 10,894 9,572 -12 8,235 6,384 6,399


38 38 - 39 42 42

6 909 Grants and Purchased Services

6,909 6,005 -13 5,864 399 409

1 479 Other Expenses 1,479 1,478 .. 1,524 1,568 1,607

28 454 Total Ordinary Expenses 28,532 27,068 -5 26,488 18,746 18,808

-9 386 Operating Result 58,811 -6,996 -112 -6,409 -114 -118



Table 43: Output Class 4: Land Strategy and Urban Renewal Operating Statement

2018-19 Budget

$'000


$'000

2019-20 Budget

$'000

Var1

%2020-21

Estimate

$'000

2021-22 Estimate

$'000

2022-23 Estimate

$'000


Payments20,446 26,690 31 16,707 16,905 17,090

0 Resources Received Free of Charge

0 140 # 143 147 151

21 606 Total Revenue 20,446 26,830 31 16,850 17,052 17,241

21 606 Total Income 20,446 26,830 31 16,850 17,052 17,241


927 Superannuation Expenses 927 1,046 13 1,115 1,168 1,1818 716 Supplies and Services 7,556 15,449 104 5,988 5,865 6,010


28 28 - 28 28 28

3 206 Grants and Purchased Services

3,206 1,249 -61 471 470 518

21 Other Expenses 21 22 5 22 23 24


-589 Operating Result -699 -620 11 -671 -598 -605



Table 44: Output Class 5: Loose Fill Asbestos Insulation Eradication Operating Statement

2018-19 Budget

$'000


$'000

2019-20 Budget

$'000

Var1

%2020-21

Estimate

$'000

2021-22 Estimate

$'000

2022-23 Estimate

$'000


Payments10,911 21,061 93 8,681 48 0

31 272 Land Revenue 26,194 15,856 -39 12,674 0 0

41 472 Total Revenue 37,105 36,917 -1 21,355 48 0

Gains


41 472 Total Income 37,105 36,917 -1 21,355 48 0

Expenses 2 453 Employee Expenses 2,483 2,492 .. 2,530 0 0

506 Superannuation Expenses 506 525 4 623 48 01 550 Supplies and Services 1,550 1,137 -27 951 0 0


55 55 - 56 0 0

4 280 Other Expenses 7,216 4,011 -44 4,828 0 027 600 Transfer Expenses 26,194 15,856 -39 12,674 0 0

36 444 Total Ordinary Expenses 38,004 24,076 -37 21,662 48 0

5 028 Operating Result -899 12,841 # -307 0 0



Table 45: Output Class 6: Public Housing Renewal Taskforce Operating Statement

2018-19 Budget

$'000


$'000

2019-20 Budget

$'000

Var1

%2020-21

Estimate

$'000

2021-22 Estimate

$'000

2022-23 Estimate

$'000


Payments40,935 2,785 -93 23 0 0

18 000 User Charges 18,000 0 -100 0 0 0

26 829 Total Revenue 58,935 2,785 -95 23 0 0

Gains


26 829 Total Income 58,935 2,785 -95 23 0 0

Expenses 1 055 Employee Expenses 1,063 329 -69 0 0 0

135 Superannuation Expenses 135 120 -11 23 0 07 695 Supplies and Services 39,801 2,327 -94 0 0 0


7 7 - 0 0 0

13 300 Cost of Goods Sold 13,300 0 -100 0 0 055 Other Expenses 55 55 - 0 0 0

4 700 Transfer Expenses 4,700 0 -100 0 0 0

26 947 Total Ordinary Expenses 59,061 2,838 -95 23 0 0

-118 Operating Result -126 -53 58 0 0 0



CITY RENEWAL AUTHORITY – STATEMENT OF INTENT

The City Renewal Authority is a Territory Authority established under the City Renewal Authority and Suburban Land Agency Act 2017.

The Authority was established to play the crucial role of co-ordinating and implementing world-class urban renewal within the City Renewal Precinct. The establishment of the City Renewal Authority ensures that as Canberra grows, its city centre and immediate surrounds will further evolve into a thriving precinct with well-designed buildings and public spaces that improve activity, connectivity and sustainability.

This Statement of Intent for 2019-20 has been prepared in accordance with Section 61 of the Financial Management Act 1996.

The responsible Minister, Andrew Barr MLA, was consulted during the preparation of the Statement of Intent. The Statement of Intent, which focuses on the 2019-20 Budget year, has been developed in the context of a four year forward planning horizon to be incorporated, as far as practicable, into the City Renewal Authority strategic and business planning processes.

The City Renewal Authority 2019-20 Statement of Intent has been agreed between:

Dr Michael Easson AM

Chair

City Renewal Authority

17 May 2019

Mr Andrew Barr MLA

Chief Minister

20 May 2019

2019-20 Budget Statements 60 City Renewal Authority

CITY RENEWAL AUTHORITY

Purpose

The City Renewal Authority (the Authority) is established under Section 7 of the City Renewal Authority and Suburban Land Agency Act 2017 (the Act), and regulated by Parts 8 and 9 of the Financial Management Act 1996, Section 50 of the Planning and Development Act 2007 and the Public Sector Management Act 1994, to lead, manage, facilitate and undertake urban renewal projects in declared urban renewal precincts.

Working with the community, the Authority recognises that the places that define our city are for its citizens to live in, enjoy and to support a quality of life Canberrans expect and deserve. The objects of the Authority are set out in Section 8 of the Act and include: the encouragement and promotion of a vibrant city through the delivery of design-led,

people-focused urban renewal;

the encouragement and promotion of social and environmental sustainability; and

operational effectiveness, delivering value for money using sound risk practices.

The functions of the Authority are set out in Section 9 of the Act and include:

carrying out urban renewal;

buying and selling leases of land on behalf of the Territory;

making arrangements for the public service or another entity to carry out development or works;

supporting public and private sector investment and participation in urban renewal;

managing orderly urban renewal, including holding, managing and selling land and other property;

supporting cooperation between the Authority, the community, and relevant entities;

supporting high quality design, planning and delivery of sustainable urban renewal;

meeting housing targets determined under Section 65 of the Act that relate to affordable, community and public housing;

supporting statutory greenhouse gas emissions targets and delivering environmentally sustainable development;

following and supporting whole-of-government strategies; and

any other function given to the Authority under the Act or another Territory law.

The City Renewal Authority must exercise its functions in a way that is consistent with its Statement of Operational Intent (as required by Section 9 of the Act).

With the approval of the Minister and the Treasurer, the Authority may exercise its functions through subsidiaries, joint ventures or trusts, or by holding shares in, or other securities of, corporations.


Nature and scope of activities

The City Renewal Authority is charged with shaping the growth of the central parts of Canberra to make it a great place to live, work, explore and enjoy.

We are doing this by leading the transformation of the City Renewal Precinct, which spans Dickson, Northbourne Avenue, Haig Park, the city centre and West Basin.

In partnership with the community, private-sector and other government agencies, we will create a vibrant and vital city heart through the delivery of design-led, people focused urban renewal with a commitment to social and environmental sustainability.

We will work with the community, business and government to create new buildings and places within the precinct that are of exemplary design quality, excite interest and participation and stimulate new investment.

We will activate the precinct with events, interventions and attractions that bring people into the city and enliven the experience for residents, workers and visitors.

Our success will be measured by:

the creation of high-quality places and undertaking precinct development which takes a people-focused and design-led approach;

the facilitation of new and diverse investment into the precinct;

the application of robust and innovative social and environmental sustainability principles and programs that will underpin precinct-wide renewal;

being a strong, strategic, influential and capable organisation; and

demonstrating exemplary accountability and transparency in governance and compliance.

Government’s Expectations

Subject to a Statement of Expectations from Government for 2019-20, the Authority will continue its work on the following initiatives:

Undertake a first phase package of funded actions and initiatives as described in the Cabinet endorsed City Precinct Renewal Program Implementation Plan in order to deliver co-ordinated urban renewal within the precinct as a whole.

The Government expects the Authority will prioritise the following projects and works in the precinct:

- Civic, Arts and Cultural Precinct – prepare a precinct urban design and development framework.


- Haig Park – enliven and revitalise this important public open space.

- West Basin Project – review the planning and development principles and progress Stage 2 works.

- City Bus Interchange – support improvements to the current interchange and investigate options for its possible future relocation.

- Sydney and Melbourne Buildings – liaise with property and business owners to direct and support revitalisation of these key heritage assets.

- Northbourne Avenue – improve the quality of the built environment befitting the primary gateway to the national capital.

- Garema Place, City Walk, Braddon, and Dickson Centre – enliven and revitalise these key renewal places.

- Place Making – activate and enliven key public spaces.

- City Centre Marketing and Improvements Program – continue to liaise with levy payers and effectively manage and deliver the program.

Establishing and maintaining positive working relationships, through:

- consulting and establishing productive working relationships with key stakeholders, including all levels of Government and other relevant bodies and organisations;

- engaging openly and meaningfully with the local community to inform both the design and delivery of works within declared precincts; and

- promoting cooperation, collaboration and coherent urban renewal with other key entities including the National Capital Authority and the Suburban Land Agency.

Establishing and maintaining positive relationships with other ACT Government directorates and agencies.

The achievement of the Government’s ongoing commitment to good public-sector governance, the principles of ‘Open Government’, and the effective management of significant land resources under the stewardship of the Authority.


2019-20 priorities

The City Renewal Authority will deliver the following project-related outcomes, consistent with the City Precinct Renewal Program1:

Garema Place / City Walk Place Plan – prepare a place plan for the revitalisation of Garema Place and City Walk, which will be people-focused and support the creation of a quality urban environment.

Haig Park – commence temporary activations, undertake minor public works and investigate the adaptive re-use of the Haig Park Depot in accordance with the Haig Park Action Plan and implementation strategy.

West Basin Precinct – complete a review of the West Basin project to finalise the planning principles and economic analysis that will underpin the successful redevelopment of the precinct. Work with the National Capital Authority to obtain approvals and schedule commencement of stage 2.

City Bus Interchange – plan for longer term opportunities to integrate a revitalised transport interchange as part of catalytic renewal efforts in Civic.

Sydney and Melbourne Buildings – finalise a strategy and associated implementation plan for revitalising the Sydney and Melbourne buildings and surrounding public realm.

Dickson Group Centre – undertake a package of capital improvements and place activations in the Dickson Group Centre.

Braddon Village – undertake a package of capital improvements and place activations in Braddon.

Public Realm Improvements – undertake capital improvements in Hobart Place, Knowles Place and Mort Street (Civic).

City Activation – continue a comprehensive program of place making and activation for the public spaces across the City Renewal Precinct, and partner with local businesses and the creative sector to strengthen its cultural capital.

Future Land Sales – prepare for future sales of land within the City Renewal Precinct in accordance with the ACT Government’s Indicative Land Release Program.

Development Referrals – The City Renewal Authority will provide comments to the Environment, Planning and Sustainable Development Directorate for all development within the City Renewal Precinct to encourage high quality design outcomes.

1 Subject to the future 2019-20 CRA Statement of Expectations


Estimated Employment Level and Employment Profile


2017-18Actual

Outcome

2018-19Budget


2019-20Budget

Staffing (FTE) 26 25 271 27

Note(s):1. The increase of two FTE from the 2018-19 Budget is due to:

a. transfer of finance staff from the Suburban Land Agency to the City Renewal Authority on 23 April 2019.

Table 2: 2019-20 Employment Profile

Classification Male Female TotalExecutive 4 0 4INFRMS2/3 0 2 2INFR4/5 1 3 4INFR3 0 1 1SOGA/B 2 3 5SOGC 3 2 5ASO6 0 1 1ASO5 1 3 4ASO4 0 1 1Total 11 16 27


Key performance indicators for 2019-20 to 2022-2023

Financial Measures

Table 3: Key performance indicators

2019-20 2020-21 2021-22 2022-23

Land Sales Revenue ($ million) 14.130 20.754 23.436 0.000Gross Profit Margin on Land Sales (%)1 41.45% 38.64% 41.71% 0.00%Appropriated Capital Works Expenditure (million) 24.144 20.890 16.175 4.160

Gross Profit Margin = (lease sales - cost of goods sold including duty and holding costs) / lease sales

1 The profit margins of the City Renewal Authority are used for internal purposes to provide comparatives across projects and time periods. These margins are not comparable with private industry and should be considered in context with the following:

In general, the Government enters the land development process at an earlier stage than private developers as it has responsibility for planning activities which can impact on zoning and lease conditions on the land. The uplift in the value of land attributable to these activities is recognised by the City Renewal Authority and forms part of the Authority’s return to Government.

The Government invests in significant infrastructure within and around the City Renewal Precinct, but these costs are often incurred by other Government agencies and therefore do not impact on the Authority’s profit margins.

The City Renewal Authority relies on independent market valuations to inform land sales prices.


Non-Financial Measures

The Authority’s non-financial performance will be assessed against the Government’s Statement of Expectations, including:

projects implemented; and city centre vitality.

The indicators of success for each measure are described in Table 4 below.

Table 4: Key performance indicators (non-financial)

Projects Indicator Target2019-20

Garema Place / City Walk Place Plan

Garema Place / City Walk Place Plan approved by the Authority Board. Quarter 2

Haig Park

A program of at least three temporary activations completed as well as the installation of temporary improvements. Project planning commenced for permanent capital works and the adaptive re-use of the former depot.

By 30 June 2020

West Basin PrecinctWest Basin Review approved by the Authority Board and submitted to Government for consideration.

Quarter 2

Sydney and Melbourne Buildings

- Revitalisation strategy and implementation plan finalised and approved by the Authority Board before consideration by Government.- Subject to the outcomes of the strategy and implementation plan, commence relevant revitalisation works and actions.

By 30 June 2020

Dickson Group Centre Streetscape improvement works commenced and place activations undertaken.

By 30 June 2020

Braddon Village Streetscape improvement works commenced and place activations undertaken.

By 30 June 2020

Public Realm Improvements Mort Street, Hobart Place, and Knowles Place capital works projects commenced.

By 30 June 2020

City Activation

All activities and/or events scheduled to be undertaken in the 2019-20 City Activation Program Calendar are completed or commenced in accordance with that calendar.

By 30 June 2020

Future Land Sales Release to market of part or all of Section 63, City

By 30 June 2020


Assessment of non-financial performance against 2018-19 objectives

The Authority’s achievements against its non-financial objectives set for 2018-19 are described below:

City Renewal Precinct Place Plans

Over the 2018-19 year, the Authority finalised and published place plans for Dickson, Braddon and Haig Park. These plans will inform the feasibility, planning and design for a number of major and minor capital works projects, events and activations, and have been put forward as part of the 2019-20 City Precinct Renewal Program budget proposal.

Haig Park Action Plan and Implementation Strategy

A Haig Park Place Plan has been finalised and publicly released. The plan identified a number of short and medium term actions within an accompanying implementation plan. Phase one of the implementation plan will see the installation of temporary furniture and lighting as well as a program of events and activations. Later stages will include more permanent works including pocket parks, lighting and the adaptive re-use of the former Haig Park Depot.

West Basin Precinct Review

A review of the West Basin project is approaching completion. The review will confirm the planning principles and economic analysis that underpin the redevelopment of the precinct and will be presented to Government for consideration. Over the year, the Authority also finalised the stage two design for the extension of the West Basin boardwalk, which will support the future works approval application to the National Capital Authority and construction of stage two.

City Bus Interchange

Planning commenced to investigate longer term opportunities to integrate a revitalised transport interchange as part of catalytic renewal in Civic.

Sydney and Melbourne Buildings

A strategy for the revitalisation of the heritage listed Sydney and Melbourne Buildings and surrounding public realm was completed over the year. An accompanying implementation plan outlining various options is undergoing final development before being brought to Government for consideration in 2019-20.

Northbourne Avenue

The formulation of design guidelines and standards was completed over the year that will ensure the quality of the built environment along Northbourne Avenue is befitting the primary gateway to the national capital.


Dickson Group Centre

Through the preparation and publication of the Dickson Place Plan, a number of opportunities for future development and renewal in the Dickson Group Centre have been identified. These opportunities have been included in the City Precinct Renewal Program business case and include a package of public realm works and events and activations with an early focus on Challis and Woolley Streets.

Braddon Village

Through the development and publication of the Braddon Place Plan, a number of opportunities for future development and renewal have been identified. These opportunities have also been included in the City Precinct Renewal Program business case and include a package of public realm works and events and activations with an early focus on Lonsdale Street.

Civic, Arts and Cultural Precinct

Planning and design work commenced on phase 1 of a new Civic, Arts and Cultural Precinct. A number of land use scenarios and public realm options have been explored which will inform concurrent work on the development of a business case for a new Canberra Theatre.

City and Gateway Urban Design Framework

The Authority worked closely with the National Capital Authority and the Environment, Planning and Sustainable Development Directorate in the public release of the City and Gateway Urban Design Framework.

City Activation

The Authority delivered a comprehensive program of place making and activation for the public spaces of the City Renewal Precinct, and partnered with local businesses and the creative sector to strengthen the cultural capital of the city centre.


Changes to Appropriation

Table 5: Changes to appropriation – Controlled Recurrent Payments


$'000

2019-20 Budget

$'000

2020-21 Estimate

$'000

2021-22 Estimate

$'000

2022-23 Estimate

$'000

2018-19 Budget 8,013 7,980 620 633 633

FMA Section 16B Rollovers from 2017-18Building a better city- City Renewal Authority - Initial

works package119 0 0 0 0

Building a better city- City Renewal Authority - Operational funding

667 0 0 0 0

2018-19 Budget Review Policy DecisionsMore jobs for our growing city - City Renewal

Authority activations and place making 600 0 0 0 0

2019-20 Budget Policy AdjustmentsRenewing Canberra's city heart 0 1,250 1,250 1,250 1,250

2019-20 Budget Technical AdjustmentsRevised Indexation Parameters 0 0 0 0 146Revised Superannuation Parameters 0 242 285 293 309More jobs for our growing city - City Renewal

Authority activations and place making -158 158 0 0 0

More jobs for our growing city - City Renewal Authority activations and place making -100 100 0 0 0

Transfer- City Centre Marketing and Improvements Levy- from EPSDD 0 1,984 1,987 1,990 1,991

Workers’ Compensation Savings 0 -7 -7 -7 -7Microsoft User Licensing Expansion 0 4 4 4 4

2019-20 Budget 9,141 11,711 4,139 4,163 4,326


Table 6: Changes to appropriation – Capital Injections


$'000

2019-20 Budget

$'000

2020-21 Estimate

$'000

2021-22 Estimate

$'000

2022-23 Estimate

$'000

2018-19 Budget 18,118 22,508 5,888 0 0

FMA Section 16B Rollovers from 2017-18Building a better city - City Renewal Authority - Canberra's

Lakeside824 0 0 0 0

Building a better city - West Basin Infrastructure 507 0 0 0 0Urban Renewal Program - Civic and Braddon Public Realm

Improvements 171 0 0 0 0

Building a better city - West Basin Public Waterfront 60 0 0 0 0Building a better city - City Renewal Authority - Initial

works package -96 0 0 0 0

Building a better city - City Renewal Authority - City Precinct Improvements 1,239 0 0 0 0

2018-19 Budget Review Policy AdjustmentsTransfer - More jobs for our growing city - City Renewal

Precinct activation projects 850 0 0 0 0

Transfer - Building a better city - City Renewal Authority - Canberra's Lakeside -1,450 0 0 0 0

2019-20 Budget Policy AdjustmentsRenewing Canberra's city heart 0 5,000 5,850 6,150 4,160

2019-20 Budget Technical Adjustments

Revised Funding Profile - Building a Better City - City Renewal Authority - Initial Works Package -306 306 0 0 0

Revised Funding Profile- Building a better city - City Renewal Authority - City Precinct Improvements -3,152 3,152 0 0 0

Revised Funding Profile- Building a better city - West Basin Infrastructure -98 98 0 0 0

Revised Funding Profile- Building a better city - Canberra's lakeside -8,677 -10,500 9,152 10,025 0

Revised Funding Profile- More jobs for our growing city - City Renewal Precinct activation projects -2,000 2,000 0 0 0

Revised Funding Profile- Building a better city - West Basin Public Waterfront -33 33 0 0 0

Revised Funding Profile- More jobs for our growing city - City Renewal Precinct activation projects -405 405 0 0 0

Revised Funding Profile- More jobs for our growing city - City Renewal Precinct activation projects

-281 281 0 0 0

Revised Funding Profile- More jobs for our growing city - City Renewal Precinct design framework and activation -848 848 0 0 0

Revised Funding Profile- More jobs for our growing city - City Renewal Precinct activation projects -13 13 0 0 0

2019-20 Budget 4,410 24,144 20,890 16,175 4,160


Monitoring and ReportingThe Authority will meet its reporting requirements as described below.

Monthly Reporting

To meet whole of government reporting requirements on a monthly basis, the Authority will ensure the timely availability of the financial statements to the Treasurer through the Chief Minister, Treasury and Economic Development Directorate (CMTEDD). The statements will be in the prescribed form and required detail, for the previous calendar month. These will be provided by the due dates set by Treasury. The statements include:

Operating Statement;

Balance Sheet; and

Cash Flow Statement.

Quarterly Reporting

As required by the Government Agencies (Land Acquisition Reporting) Act 2018, the Authority will provide to the responsible Minister, after the end of a quarter, a report which details any land acquisition by the Authority, or a statement to the effect that no land was acquired by the Authority, during the quarter.

Annual Reporting

To comply with the Financial Management Act 1996 and to enable whole of government reporting requirements to be met, the Authority will provide the following information to the Auditor-General and CMTEDD by the dates set by Treasury:

certified financial statements;

Statement of Performance;

management discussion and analysis;

a full and accurate set of audited financial records for the preceding financial year in the form requested; and

consolidation packs relating to the annual financial statements, draft and final.

As required by Section 14 of the Act, the Authority will prepare an annual report under the Annual Reports (Government Agencies) Act 2004, including:

any Statement of Expectations and Statement of Operational Intent in effect during the reporting year;

a report on the extent to which the Statement of Operational Intent in effect during the reporting year was met during the reporting year; and

if the Statement of Operational Intent was not met in whole or in part during the reporting year, give reasons why the Statement of Operational Intent was not met.


Ministerial and Directorate Reporting

The Authority will provide timely, accurate and coordinated advice to Government, including the Minister, on significant issues in its core area of business, including (but not limited to):

matters for which the Government is likely to be accountable in the Legislative Assembly;

important operational or budgetary issues, including management of its responsibilities under the Work Health and Safety Act 2011;

the Authority’s achievement of set housing targets;

matters related to its internal governance, including compliance with the Government’s framework for management of risk; and

decisions made by the Authority’s Board.


Financial arrangementsBudgeted financial statements for the 2019-20 Budget year, as well as forward estimates for the three financial years appear below. These general purpose financial statements, have been prepared in accordance with the ACT’s Model Financial Statements and include:

a) Operating Statement.

b) Balance Sheet.

c) Statement of Changes in Equity.

d) Cash Flow Statement.


Financial Statements

Table 7: City Renewal Authority: Operating Statement

2018-19 Budget

$'000


$'000

2019-20 Budget

$'000

Var%

2020-21 Estimate

$'000

2021-22 Estimate

$'000

2022-23 Estimate

$'000

Income

Revenue8,013 Controlled Recurrent

Payments9,141 11,711 28 4,139 4,163 4,326

0 Land Revenue 2,762 14,130 412 20,754 23,436 063 User Charges 63 63 - 0 0 0

222 Interest 222 265 19 185 144 1911,792 Resources Received Free of

Charge1,792 1,821 2 1,850 1,872 1,894

1,967 Other Revenue 1,966 0 -100 0 0 0

12,057 Total Revenue 15,946 27,990 76 26,928 29,615 6,411


488 Superannuation Expenses 488 801 64 860 882 9146,921 Supplies and Services 8,711 8,346 -4 8,482 8,693 7,194

622 Depreciation and Amortisation 26 57 119 116 515 904638 Grants and Purchased Services 892 267 -70 268 269 270750 Cost of Goods Sold 0 8,273 # 11,875 12,803 0

0 Interest Expenses 0 0 - 377 377 00 Other Expenses 0 0 - 482 482 0

13,415 Total Expenses 14,122 22,462 59 27,269 28,938 14,254

-1,358 Operating Result from Ordinary Activities

1,824 5,528 203 -341 677 -7,843

0 Income Tax Equivalent 547 1,659 203 0 203 0

-1,358 Operating Result 1,277 3,869 203 -341 474 -7,843

-1,358 Total Comprehensive Income 1,277 3,869 203 -341 474 -7,843


Table 8: City Renewal Authority: Balance Sheet

Budgetat

30/6/19 $'000


$'000

Budgetat

30/6/20 $'000

Var%

Estimateat

30/6/21 $'000

Estimateat

30/6/22 $'000

Estimateat

30/6/23 $'000

Current Assets8,082 Cash and Cash Equivalents 11,497 13,269 15 6,392 12,007 5,000

11,626 Inventories 465 2,454 428 9,108 4,484 4,55322,100 Capital Works in Progress 24,212 46,800 93 67,690 65,504 62,376

41,808 Total Current Assets 36,174 62,523 73 83,190 81,995 71,929

Non Current Assets5,966 Inventories 11,155 11,155 - 11,155 11,155 11,155


994 2,490 151 2,375 20,221 26,605


67,147 TOTAL ASSETS 48,323 76,168 58 96,720 113,371 109,689

Current Liabilities626 Employee Benefits 830 821 -1 821 821 821159 Other Liabilities 1,391 1,232 -11 1,232 1,232 1,232

785 Total Current Liabilities 2,221 2,053 -8 2,053 2,053 2,053

Non Current Liabilities26 Employee Benefits 38 38 - 38 38 38

0 Deferred Tax Liability 2,820 2,820 - 2,820 2,820 2,820748 Other Liabilities 0 2,316 # 2,316 2,791 2,791

774 Total Non Current Liabilities 2,858 5,174 81 5,174 5,649 5,649

1,559 TOTAL LIABILITIES 5,079 7,227 42 7,227 7,702 7,702

65,588 NET ASSETS 43,244 68,941 59 89,493 105,669 101,987


65,588 Accumulated Funds 43,244 68,941 59 89,493 105,669 101,987

65,588 TOTAL FUNDS EMPLOYED 43,244 68,941 59 89,493 105,669 101,987


Table 9: City Renewal Authority: Statement of Changes in Equity

Budgetat

30/6/19 $'000


$'000

Budgetat

30/6/20 $'000

Var%

Estimateat

30/6/21 $'000

Estimateat

30/6/22 $'000

Estimateat

30/6/23 $'000

Opening Equity

48,828 Opening Accumulated Funds 37,311 43,244 16 68,941 89,493 105,669


37,311 43,244 16 68,941 89,493 105,669

Comprehensive Income-1,358 Operating Result - Including

Economic Flows1,277 3,869 203 -341 474 -7,843


1,277 3,869 203 -341 474 -7,843


Transactions Involving Owners Affecting Accumulated Funds18,118 Capital Injections 4,410 24,144 447 20,890 16,175 4,160

0 Dividend Approved 246 -2,316 # 3 -473 1

18,118 Total Transactions Involving Owners Affecting Accumulated Funds

4,656 21,828 369 20,893 15,702 4,161

Closing Equity65,588 Closing Accumulated Funds 43,244 68,941 59 89,493 105,669 101,987


43,244 68,941 59 89,493 105,669 101,987


Table 10: City Renewal Authority: Cash Flow Statement

2018-19 Budget

$'000


$'000

2019-20 Budget

$'000

Var %

2020-21 Estimate

$'000

2021-22 Estimate

$'000

2022-23 Estimate

$'000


8,013 Controlled Recurrent Payments

9,141 11,711 28 4,139 4,163 4,326

63 User Charges 71 63 -11 0 0 0222 Interest Received 222 265 19 185 144 191

0 Land Sales 2,762 13,971 406 20,754 23,436 01,967 Other 2,211 0 -11 0 0 0

10,265 Operating Receipts 14,407 26,010 81 25,078 27,743 4,517


490 Superannuation 490 801 63 860 882 9145,129 Supplies and Services 7,780 6,525 -16 6,633 6,821 5,301


892 267 -70 268 269 270

0 Interest Expenses 0 0 - 377 377 00 Income Tax Equivalent

Payments1,329 1,658 25 0 204 0

1,890 Related to Cost of Goods Sold 465 10,263 # 18,528 8,178 700 Other 37 0 -100 482 482 0


-1,886 NET CASH INFLOW/(OUTFLOW) FROM OPERATING ACTIVITIES

-634 1,769 379 -6,879 5,613 -7,010


Payments18,100 Purchase of Property, Plant

and Equipment4,395 24,141 449 20,888 16,173 4,157

18,100 Investing Payments 4,395 24,141 449 20,888 16,173 4,157


-4,395 -24,141 -449 -20,888 -16,173 -4,157


Table 10: City Renewal Authority: Cash Flow Statement (continued)

2018-19 Budget

$'000


$'000

2019-20 Budget

$'000

Var %

2020-21 Estimate

$'000

2021-22 Estimate

$'000

2022-23 Estimate

$'000


18,118 Capital Injections 4,410 24,144 447 20,890 16,175 4,16018,118 Financing Receipts 4,410 24,144 447 20,890 16,175 4,160

Payments0 Distributions to Government 983 0 -100 0 0 00 Financing Payments 983 0 -100 0 0 0

18,118 NET CASH INFLOW/(OUTFLOW) FROM FINANCING ACTIVITIES

3,427 24,144 605 20,890 16,175 4,160

-1,868 NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS

-1,602 1,772 211 -6,877 5,615 -7,007

9,950 CASH AT THE BEGINNING OF REPORTING PERIOD

13,099 11,497 -12 13,269 6,392 12,007

8,082 CASH AT THE END OF REPORTING PERIOD

11,497 13,269 15 6,392 12,007 5,000




Operating Statement

controlled recurrent payments:

- the increase of $1.128 million in the 2018-19 estimated outcome from the 2018-19 Budget is predominately associated with the rollover of 2017-18 prior year controlled recurrent funding ($0.786 million) and spending on the City Renewal Precinct design framework and activation initiative which was funded in the 2018-19 Budget Review ($0.600 million).

- the increase of $2.570 million in the 2019-20 Budget from the 2018-19 estimated outcome is predominantly related to the City Centre Marketing and Improvements Levy which will be directly appropriated from the 2019-20 financial year rather than being received as other revenues from the Environment, Planning and Sustainable Development Directorate.

land revenue:

- the increase of $2.762 million in the 2018-19 estimated outcome from the 2018-19 Budget is due to additional land sales revenue from the sale of a city block which was not forecast in the 2018-19 Budget.

- the increase of $11.368 million in the 2019-20 Budget from the 2018-19 estimated outcome is associated with additional land sales expected to occur in the city during the 2019-20 financial year.

other revenue:

- the decrease of $1.966 million in the 2019-20 Budget from the 2018-19 estimated outcome is due to the City Centre Marketing and Improvements Levy being directed appropriated from the 2019-20 financial year rather than being received as other revenues from the Environment, Planning and Sustainable Development Directorate.


- the increase of $1.790 million in the 2018-19 estimated outcome from the 2018-19 Budget is due primarily to the rollover of 2017-18 prior year controlled recurrent funding ($0.786 million) and spending on the City Renewal Precinct design framework and activation initiative which was funded in the 2018-19 Budget Review ($0.342 million). Further a reclassification of expenditure occurred during the year ($0.750 million) from costs of goods sold to supplies and services to reflect the nature of the transactions.

cost of goods sold:


- the increase of $8.273 million in the 2019-20 Budget from the 2018-19 estimated outcome is associated with the recognition of land and development costs upon settlement of additional land sales expected to occur in the city during the 2019-20 financial year.

Balance Sheet

cash and cash equivalents:

- the increase of $3.415 million in the 2018-19 estimated outcome from the 2018-19 Budget is predominantly due to an increase in land sales revenue associated with the sale of a city block which was not forecast in the 2018-19 Budget.

- the increase of $1.772 million in the 2019-20 Budget from the 2018-19 estimated outcome is associated with additional land sales expected to occur in the city during the 2019-20 financial year offset by increased land development costs anticipated to be incurred.

current and non-current inventories:

- the decrease of $5.972 million in the 2018-19 estimated outcome from the 2018-19 Budget is due to lower inventory balances transferred to the Authority from the former Land Development Agency as recognised in the 2017-18 financial statements.

- the increase of $1.989 million in the 2019-20 Budget from the 2018-19 estimated outcome is due to land development costs for future city releases expected to be incurred during the year.

current capital works in progress:

- the increase of $2.112 million in the 2018-19 estimated outcome from the 2018-19 Budget is largely due to a delay in capital works being completed and recognised as property, plant and equipment ($18.714 million). This is predominantly related to the City Renewal Authority - Canberra's lakeside initiative which has been delayed pending an agreement to the transfer of National land and the City Renewal Precinct activation projects initiative which has been impacted by delays in required utilities works. This is partially offset by decreased capital works expenditure during the 2018-19 financial year with funding reprofiled to later years ($15.813 million).

- the increase of $22.588 million in the 2019-20 Budget from the 2018-19 estimated outcome is predominately associated with the funding reprofiled from the 2018-19 financial year. In addition, this increase can be attributed to spending on the Renewing Canberra’s city heart ($5.000 million) initiative in the 2019-20 financial year.



- the decrease of $18.379 million in the 2018-19 estimated outcome from the 2018-19 Budget is primarily due to a delay in capital works being completed and recognised as property, plant and equipment. This is predominantly attributable to West Basin Stage 1 ($17.030 million) which is not yet financially complete.

- the increase of $1.496 million in the 2019-20 Budget from the 2018-19 estimated outcome is due to the capitalisation of capital works in progress balances.

other current liabilities:

- the increase of $1.232 million in the 2018-19 estimated outcome from the 2018-19 Budget is associated with the deferred recognition of revenue received in advance related to the City Centre Marketing and Improvements Levy in the 2017-18 year.

other non-current liabilities:

- the increase of $2.316 million in the 2019-20 Budget from the 2018-19 estimated outcome is due to recognition of a dividend payable to the Territory in the 2019-20 financial year.

deferred tax liability:

- the increase of $2.820 million in the 2018-19 estimated outcome from the 2018-19 Budget is due to the recognition of a deferred tax liability arising from assets transferred from the former Land Development Agency which had not been envisaged when the 2018-19 Budget was prepared.

Statement of Changes in Equity and Cash Flow Statement

Variations in the Statements are explained in the notes above.


SUBURBAN LAND AGENCY – STATEMENT OF INTENT

The Suburban Land Agency (the Agency) is a Territory Authority established under the City Renewal Authority and Suburban Land Agency Act 2017.

This Statement of Intent for 2019-20 has been prepared in accordance with Section 61 of the Financial Management Act 1996.

The responsible Ministers, Ms Yvette Berry MLA and Ms Rachel Stephen-Smith MLA, were consulted during the preparation of the Statement of Intent.

The Statement of Intent, which focuses on the 2019-20 Budget year has been developed in the context of a four-year horizon. This is to be incorporated, as far as practicable, into the Agency’s strategic and business planning processes.

The Suburban Land Agency 2019-20 Statement of Intent has been agreed between:

_________________________________

Mr John Fitzgerald Ms Yvette Berry MLAChairSuburban Land Agency Board

Minister for Housing and Suburban Development

29 May 2019 29 May 2019

Mr Andrew Barr MLATreasurer29 May 2019

2019-20 Budget Statements 83 Suburban Land Agency

SUBURBAN LAND AGENCY

PurposeThe Agency is a Territory Authority established under the City Renewal Authority and Suburban Land Agency Act 2017. Its purpose is to deliver the ACT Government’s desired suburban land development.

Its vision is to deliver:

‘Great places where communities thrive’

Its objectives are to:

1) encourage and promote:

a) inclusive communities by delivering people-focussed neighbourhoods;

b) suburban development and urban renewal, other than in the City Renewal Precinct, that supports:

i) affordable living;

ii) a safe and healthy population;

iii) social inclusion;

iv) housing choice;

v) environmental sustainability;

c) growth and diversification of the Territory’s economy; and

2) operate effectively to deliver value for money using sound risk management practices.

Nature and Scope of Activities

The Agency develops and releases government-owned land for residential, commercial, industrial and community purposes.

The Agency:

buys and sells land leases on behalf of the Territory;

ensures a mixture of public and private housing in new suburbs;

increases the supply of affordable and community housing;

meets housing targets;

develops land in an environmentally sustainable way;

operates in ways that support statutory greenhouse gas emissions targets; and

follows and supports whole of government strategies.


The Agency works closely with other entities to encourage cohesive suburban development. By acting in a trustworthy, responsible and professional way, the Agency will:

work efficiently and provide agreed returns to the Territory;

consider the long-term sustainability of the Territory in all key commercial decisions on greenfield land in the ACT;

encourage and support innovation to build a city for the future with a focus on transport, water supply, sustainable environments, connectivity and energy efficiency;

deliver the ACT Government’s Indicative Land Release Program (see Table 4); and

engage with communities clearly, transparently, honestly and professionally about the land development process and projects.

The Agency carefully balances public and private sector priorities and is building strong and mutually beneficial relationships across both sectors.

Government’s Expectations

On 19 April 2018 the Minister for Housing and Suburban Development wrote to the Agency to reaffirm the Government’s expectations detailed in the previous advice of 25 August 2017, and to update the expectations.

The updated advice emphasised:

improving information management and governance;

actively participating in and contributing to land and housing planning;

assisting others with the Agency’s experience and knowledge; and

ensuring the Agency embodies the Government’s commitment to true gender equality.

On 5 February 2019 the Minister for Urban Renewal outlined what the Government expects of the Agency under the City Renewal Authority and Suburban Land Agency Act 2017 relating to urban renewal and major land and property project facilitation. The Minister reiterated the expectations set out by the Minister for Housing and Suburban Development and provided the Agency with additional principles to inform decisions on urban renewal, including:

design-led building quality to promote connectivity and active living;

high-quality public amenity;

land release that achieves positive environmental and social outcomes; and

community engagement and consideration regarding renewal sites and their place in the fabric of their neighbourhoods and communities.


ACT Government and Other Planning Strategies

The ACT Government’s policies and plans include the delivery of a city that is:

more compact, sustainable, and environmentally responsible (the ACT Government is aiming to achieve net zero emissions by 2045);

more inclusive and vibrant;

better connected and more accessible and liveable; and

more resilient and prosperous.

In its role in developing new communities, the Agency will recognise and respond to community’s desires for:

compact and sustainable neighbourhoods;

effective collaboration between public and private sectors;

better housing choice and affordability;

improved quality of urban design in public spaces; and

showcasing sustainability and quality design in new developments and precincts.

The Agency complies with ACT Government and Commonwealth legislation, codes and policies in its operations and land development activities. This includes but is not limited to the:

Planning and Development Act 2007 and the City Renewal Authority and Suburban Land Agency Act 2017;

ACT Housing Strategy and housing targets set in accordance with the City Renewal Authority and Suburban Land Agency Act 2017;

Territory Plan including Structure Plans, Concept Plans or Precinct Codes and other associated codes such as the Estate Development Code;

Municipal Infrastructure Standards as prepared by the Transport Canberra and City Services Directorate;

ACT Planning Strategy 2018 and Statement of Planning Intent 2015;

ACT Waste Management Strategy 2011-2025 and Waste Management and Resource Recovery Act 2016;

Climate Change Strategy to 2025, Canberra’s Living Infrastructure Plan and the Climate Change and Greenhouse Gas Reduction Act 2010;

draft Moving Canberra: Integrated Transport Strategy and Active Travel Framework;

ACT Water Strategy 2014-44: Striking the Balance; and

Nature Conservation Strategy 2013-2023; Environmental Protection Act 1997; Heritage Act 2004 and Environment Protection and Biodiversity Conservation Act 1999 (Cwth).


Land Supply

The ACT Government updates and publishes the Indicative Land Release Program (the ILRP) each year, which gives guidance on how the ACT Government intends to release land. The ILRP is an important part of the ACT Government’s economic, social and environmental strategic planning framework.

The Agency was consulted in the development of the 2019-20 to 2022-23 ILRP.

The ILRP includes residential, commercial, industrial and community releases. It aims to meet market needs by providing a range of land choices that allow for a variety of housing types and community and mixed use developments.

The ILRP provides important information to a variety of people and organisations such as property developers, builders, homeowners, investors, community organisations and the broader business and industry sectors.

The Agency is responsible for managing the release of land for residential, commercial, industrial and community purposes specified under the ILRP through:

releasing serviced sites from its own greenfield estates, urban renewal and infill locations;

partnering with others in joint venture developments;

releasing large areas of raw land directly to the private sector (Englobo releases); and

giving feedback to the Environment, Planning and Sustainable Development Directorate on the delivery of the ILRP, including any suggested refinements.

Risks

The Agency maintains a risk register that identifies risks under the following categories:

Strategic – ACT and Commonwealth Government policies, priorities and strategies; external conditions, activities and environments; and meeting community and Government expectations.

Operational – Management of financial and non-financial targets; business and financial systems and processes; organisational and workforce planning; projects and land development; and effective governance.

Fraud and Corruption – Management of information including procedures, procurement, resources and contracts, and compliant records management.

Work Health and Safety (WHS) – Through active engagement and a WHS framework the Agency manages risks to staff, contractors and visitors.

Risk registers for Agency functions and activities are maintained with a fit-for-purpose monitoring and review program that oversees activities.

The Agency is currently experiencing a challenging housing market with demand for product easing and competition to sell product increasing. The Agency, including its Governing Board, continues to work with the Government to find innovative solutions to this emerging risk.


The risk priorities, as defined in the Board-approved Suburban Land Agency Risk Appetite Statement, are:

Nil Appetite

Safety – Ensuring WHS risk is identified, managed and actively monitored.

Fraud and Corruption – Fraudulent or corrupt behaviour or activities, including the inappropriate use of assets and resources, are managed in accordance with the Fraud and Corruption Plan.

Environmental and Heritage Impact – Agency decisions will consider long-term environmental impact. Appropriate measures will be implemented to manage activities that can interfere with or damage cultural and heritage artefacts or events.

ICT Security, Privacy and Security – The Agency will actively engage with appropriate areas of government to maintain the security of information it holds.

Regulatory or Legislative Breaches and Probity – All areas will continue to comply with regulatory or legislative obligations. This includes operating in a fair, open and transparent manner in all activities, including procurement.

The Agency has an appetite for

Sustainability – Establishing the Agency as a leader in delivering long-term sustainable projects by considering social, environmental and economic impacts of its activities.

Productive Stakeholder Engagement – Establishing relationships and formal partnerships with relevant internal and external stakeholders (including government, industry and the community) in collaborative, purposeful, timely, accountable and inclusive ways.

Establishing a Performance Culture – Ensuring empowered and accountable staff combine with innovation to drive the Agency’s activities.

Design Excellence – Seeking to lead industry innovation through design excellence.

Affordability – Making Agency products more affordable through innovative financial options.

Government Policy – Continuing to actively support government policy in all its dealings.


Priorities and Strategies for 2019-20 to 2022-23

The Agency’s Strategic Priorities identified in its first two years have been matured. To meet its obligations to the Canberra community the Agency has identified three major priorities for 2019-20:

Innovation – The Agency will collaborate with industry to showcase the future in environmental and sustainable urban design.

Customer Focus – The Agency will increase value to its customers by targeting their specific needs and being more responsive.

Government Partnerships – The Agency will engage with its government partners to support whole of government strategies and influence the important decisions that affect its business.

The Suburban Land Agency Strategy Map (Figure 1) defines the operating environment, key drivers and strategic framework. A Balanced Scorecard approach to managing outcomes against these priorities has been adopted. It measures activities across key focus areas:

Financial Customers and Stakeholders Internal Business Processes People, Learning and Growth

Figure 1: Suburban Land Agency Strategy Map


The Balanced Scorecard identifies lead and lag measures. These are designed to assess performance against the objectives and priorities established by Government, the Agency’s Board and Executive, and the ILRP.

This approach is an improvement on the 2018-19 Statement of Intent and builds upon the Agency’s achievements and successes since it began on 1 July 2017.

Key land developments for 2019-20 to 2022-23 include:

a) Ginninderry – Continue to deliver construction work providing an innovative housing affordability model.

b) Molonglo – Deliver the suburb of Whitlam and release further commercial land.

c) Gungahlin – Continue development and release of land in Taylor and Jacka and release commercial land in the Gungahlin Town Centre.

d) Industrial – Continue to release land to meet market demand, including the Hume region.

e) Urban – Development and release of sites including Kingston, Belconnen and Phillip.

Estimated Employment Level and Employment Profile


2018-19Budget

2018-19EstimatedOutcome

2019-20Budget

Staffing (FTE) 92 91 121

Table 2: 2019-20 Employment Profile

Classification Female Male Unfilled TotalAdministrative Services Officer 13 7 15 35Executive 1 4 1 6Government Solicitor 0 0 1 1Infrastructure Manager/Specialist 1 6 3 10Infrastructure Officer 5 17 1 23Senior Officer 16 12 18 46

Total 36 46 39 121

Notes:

1. As at the end of March 2019, against the 2019-20 budgeted FTE of 121, there were 82 staff employed. The remaining 39 are made up of vacancies against the 2018-19 budgeted establishment and new positions created in the 2019-20 budget.

2. The increase in budget FTE for 2019-20 includes new positions for identified capability gaps, project delivery and new functions from 1 July 2019 in Community Development and Engagement, Project Support, Strategic and Corporate, Sales and Marketing, Sustainability and Affordable Housing.


Key Performance Indicators for 2019-20 to 2022-23

Financial Measures

The following table outlines the Agency’s performance measures for profitability and financial stability.

Table 3: Financial Measures


2019-20 Budget

2020-21 Estimate

2021-22 Estimate

2022-23 Estimate

Land Revenue (million) $544 $434 $469 $682 $698Total Return to Government (million)1 $390 $274 $255 $294 $268Return on Assets (%)2 47.4 35.1 31.2 41.0 50.7Gross Profit Margin on Land Sales (%)3, 6, 7 78.4 66.4 58.0 46.3 54.4Net Profit Margin (%)4 & 6 33.5 37.1 32.5 26.4 24.7Inventory Turnover (%)5 34.8 34.8 36.2 69.9 83.1

Notes:

1. Total return to government = operating result before tax + payments for land acquisitions + payroll tax + stamp duty equivalents + interest expenses + capital distributions.

2. Return on assets = (operating result before tax + interest expenses) / average total assets for period.

3. Gross profit margin on land sales = (land sales - cost of land sold including duty) / land sales.

4. Net profit margin = operating result / total revenue.

5. Inventory turnover = cost of land sold / average inventory.

The high inventory turnover in 2021-22 and 2022-23 is due to high cost of land sold, as the majority of settlements in these years are greenfield sites which require more construction work.

6. The profit margins of the Suburban Land Agency are used for internal purposes to provide comparatives across projects and time periods. These margins are not comparable with private industry, noting that the Government, through the Suburban Land Agency, enters into the land development process at an earlier stage than a private developer. Additionally, the Government invests in infrastructure within and around its developments with the cost incurred by other Government agencies and therefore not reflected in the Suburban Land Agency’s profit margins.

7. The higher profit margins in 2018-19 and 2019-20 are affected by the accounting treatment of Asset Recycling Initiative (ARI) land – the cost of ARI land is expensed at the time it is transferred to the Suburban Land Agency, and is therefore not considered when calculating gross profit. If adjusted, the gross profit margin in 2018-19 and 2019-20 would be 56.3% and 54.5%, and the net profit margins would be 34.2% and 25.5% respectively.


Non-Financial Measures

The Agency’s non-financial performance will be measured by assessing:

achievement against the targets for the release of residential, commercial, industrial and community land specified in the Government’s ILRP for 2019-20 (see Table 4); and

performance against the targets in Table 5.

Table 4: Key Performance Indicators (non-financial) – Land Release

Indicative Land Release Program – Suburban Land Agency sites1

Release Type 2019-20 Target

a. Residential 3,090 dwellings

b. Mixed Use 58,072 m2

c. Commercial 21,209 m2

d. Industrial 20,000 m2

e. Community 67,838 m2

Affordable Housing Land Release Type (included in above totals)Affordable Purchase and Land Rent 428 dwellings

Public Housing 75 dwellings

Community Housing 55 dwellings

Note:1. The full ILRP is available at https://www.planning.act.gov.au/topics/land-release.


Table 5: Key Performance Indicators (non-financial) – non-Land Release

Indicator2019-20 Target

1 Work Health and Safety (Active Certification) audits completed 35

2 Enter into strategic partnerships for service delivery 2

3 Social media (Facebook) total monthly post engagement 10% increase on 2018-19

4 Annual unique users visiting the Agency website 10% increase on 2018-19

5 Total annual Agency email subscribers 5% increase on 2018-19

6 Develop an Innovation Framework to be considered by the Board for approval

1

7 Develop a framework for tree canopy cover for future Agency developments, to be considered by the Board for approval

1

8 Deliver at least one resident-led activity in each active suburb as part of the Suburban Land Agency Mingle Program

6

9 Agency staff employed at 30 April 2020 have approved Performance and Development Plans in place

90%

10 Agency staff1 have completed Fraud and Ethics Training by 30 June 2020

70%

11 Agency staff1 have completed Work Health and Safety Training by 30 June 2020

70%

12 Offer Respect, Equity and Diversity Training to all staff 4 courses made available to Agency staff

1 Agency staff employed as at 1 January 2020


Assessment of Performance Against 2018-19 Objectives

Culture

1) Strengthen a positive culture in the Agency through education, better communication and actively responding to concerns.

2) Ensure awareness throughout the Agency of the 2018 Staff Survey outcomes and action plan, and undertake a staff satisfaction survey in 2019.

3) Improve and implement risk and WHS frameworks.

4) Promote diversity within the Agency workplace, which may include partnering with local universities and reviewing employment advertising strategies.

5) Finalise a Strategic Human Resources Plan for the Agency.

Assessment

The Agency’s Board (including through its Committees) and Executive have actively engaged with staff to further embed a positive culture throughout the organisation. This has been achieved with regular engagement, an organisational restructure and open and transparent communication with all staff. The Executive has demonstrated its commitment to improved communication and recognition with a number of activities including all staff meetings, all staff emails reiterating expectations and awards recognising outstanding performance.

During 2018-19 the Board approved the Suburban Land Agency Risk Appetite Statement, risk registers and reporting processes. The Board approved various frameworks, policies and procedures, including incident reporting processes, and made them available to staff.

The Board also endorsed the Suburban Land Agency Diversity Action Plan and key initiatives were implemented.

The Agency remains committed to engaging with the Environment, Planning and Sustainable Development Directorate to deliver a number of initiatives to benefit staff. One example is the development of a Strategic Human Resources Plan, scheduled for finalisation in 2019.

Business Improvement

6) Work with other areas of the ACT Government to improve whole of life urban infrastructure outcomes within the Agency’s estates and developments.

7) Collaborate and co-operate with other ACT and Commonwealth Government agencies to deliver and advise the ACT Government on key government priorities. This includes land development, future areas of growth, housing, renewal, affordable housing, property market conditions and building effective communities.

Assessment

The Agency has developed strong working relationships with other agencies to improve long-term infrastructure outcomes and deliver government priorities. For example, the Agency is represented on various working groups that also involve the Environment, Planning and Sustainable Development Directorate and the Transport Canberra and City Services Directorate. These working groups cover climate change, stormwater, active travel, housing and land release. A series of presentations and discussion sessions has been organised to support information sharing and collaboration between agencies.


Community Needs

8) Establish capabilities to help enhance outcomes in community needs, inclusive communities and diversity.

9) Engage and build strategic relationships with local communities, industry associations, special interest groups and the broader ACT community to ensure relevant interests are identified.

10) Increase opportunities to improve participation in Agency engagement activities.

11) Deliver community building and development programs to encourage residents to get involved and connect more with their local communities.

12) Share the learnings of the Mingle program within the ACT Government and with other interested parties.

Assessment

The Mingle Program has continued to deliver community development programs through a range of community initiatives delivered in Moncrieff, Wright, Coombs, Throsby and Lawson. This includes both Mingle-led and community-led activities, partnerships, grants, mentoring and events.

The Mingle program has a strong focus on building inclusive communities. It does this by actively engaging and connecting with a diverse mix of residents. A number of ACT Government partnerships have also been established in the areas of sustainability and education.

Affordable Living

13) Review Government initiatives and industry exemplar projects to determine the best approach for industry partnering, particularly for affordable living and climate adaptation.

14) Identify opportunities within the Indicative Land Release Program and with industry partners to create affordable housing and climate adaptation demonstration projects.

15) Facilitate and support the delivery of affordable housing including community and public housing.

Assessment

The Agency has focussed on delivering the housing targets through the framework established under the City Renewal Authority and Suburban Land Agency Act 2017. This includes working closely with the Environment, Planning and Sustainable Development Directorate to implement the ACT Government’s Affordable Home Purchase Initiative. The Agency is also working to identify demonstration opportunities, such as display homes or display villages. Furthermore, it has collaborated with other government land organisations to understand government initiatives and exemplar projects in jurisdictions around Australia.


Climate Adaptation

16) New Agency greenfield estates (>500 single residential dwellings) exhibit and promote initiatives focussed on biodiversity, energy efficiency and sustainability.

17) Bushfire Management Plans will be implemented and monitored as part of the Estate Development Planning process.

Assessment

The Agency has continued to focus on sustainability in developing new communities. This includes water sensitive urban design, active travel, incorporation of living infrastructure and running community events and activities to encourage and support sustainable living. The Agency is developing new initiatives focussed on improving tree canopy cover and active travel, improving community understanding of climate-wise buildings and gardens, and increasing renewable energy use.

Monitoring and Reporting

The Agency will report against the requirements of this Statement of Intent as well as the Chief Minister’s Annual Report Directions in the Suburban Land Agency Annual Report.

The Financial Management Act 1996 allows the Treasurer to receive financial and other statements from the Suburban Land Agency for a specific period. This includes annual and monthly reporting.

Monthly Reporting

The Agency will meet whole of government monthly reporting requirements by ensuring the timely availability of financial statements to the Treasurer through the Chief Minister, Treasury and Economic Development Directorate. The statements will be in the below prescribed form and required detail, for the previous calendar month. These will be provided by the due dates set by Treasury.

a) Statement of Comprehensive Income;

b) Balance Sheet; and

c) Cash Flow Statement.

Annual Reporting

To comply with the Financial Management Act 1996 and to enable whole of government reporting requirements to be met, the Agency will provide the following information to the Auditor-General and Chief Minister, Treasury and Economic Development Directorate by the dates set by Treasury:

a) Certified Financial Statements;

b) Statement of Performance;

c) Management Discussion and Analysis;

d) a full and accurate set of audited financial records for the preceding financial year in the form requested; and

e) consolidation packs relating to the annual financial statements – draft and final.


Ministerial and Directorate Reporting

The Agency will provide timely, accurate and coordinated advice to Government, including the Minister, on its activities, responsibilities, significant issues and decisions of the Suburban Land Agency Board. This is in accordance with the City Renewal Authority and Suburban Land Agency Act 2017.

The Agency will provide a quarterly report to the Minister detailing:

a) its activities, initiatives or business operations undertaken in support of the objectives of the Agency contained in Section 38 of the City Renewal Authority and Suburban Land Agency Act 2017;

b) assurance statements that any sale of land leases was consistent with Section 38 of the City Renewal Authority and Suburban Land Agency Act 2017; and

c) land acquisitions in accordance with Section 63 of the City Renewal Authority and Suburban Land Agency Act 2017.

The Agency will also report annually to the Minister on its achievements and progress with regards to gender diversity and cultural improvement activities.

Financial ArrangementsThe Agency is a self-funded statutory authority which normally requires no supplementary funding from the ACT Government.

Joint Venture

The West Belconnen joint venture is a 60:40 agreement between Riverview Pty Limited and the ACT Government.

The West Belconnen joint arrangement was established on 23 November 2016. In the 2019-20 Budget statements, the West Belconnen joint arrangement is classified as a joint operation in accordance with the accounting standards. The assets, liabilities, revenues and expenses of the joint operation are proportionately consolidated with the Agency in the Statement of Comprehensive Income and the Balance Sheet.

For consistency, all references outside this section of the Statement of Intent will apply the original nomenclature of the West Belconnen joint venture.


Financial Statements

Table 6: Suburban Land Agency: Operating Statement

2018-19 Budget

$'000


$'000

2019-20 Budget

$'000

Var 1

%2020-21

Estimate

$'000

2021-22 Estimate

$'000

2022-23 Estimate

$'000

Income

Revenue700,646 Land Revenue 544,134 434,076 -20 469,365 681,702 698,450

979 User Charges 984 803 -18 711 519 5322,745 Interest 3,570 1,280 -64 1,599 1,253 4508,626 Resources Received Free of

Charge8,626 8,765 2 8,905 9,129 9,129

274 Other Revenue 450 291 -35 274 274 274

713,270 Total Revenue 557,764 445,215 -20 480,854 692,877 708,835

Gains


713,270 Total Income 557,764 445,215 -20 480,854 692,877 708,835


1,609 Superannuation Expenses 1,419 2,093 47 2,185 2,256 2,35440,355 Supplies and Services 34,687 41,692 20 38,490 43,089 39,350


149 685 360 932 146 144


329 437 33 448 457 465

202,345 Cost of Land Sold 116,710 144,622 24 196,119 364,753 318,0812,662 Interest Expenses 1,450 1,959 35 1,194 1,693 983

124,839 Other Expenses 124,551 1,421 -99 1,307 1,228 78,662

385,078 Total Expenses 290,527 209,471 -28 257,877 431,287 458,477

328,192 Operating Result from Ordinary Activities

267,237 235,744 -12 222,977 261,590 250,358

98,458 Income Tax Equivalent 80,171 70,723 -12 66,893 78,476 75,107

229,734 Operating Result 187,066 165,021 -12 156,084 183,114 175,251

Other Comprehensive Income

Items that will not be Reclassified Subsequently to Profit or Loss0 Total Other Comprehensive

Income0 0 - 0 0 0

229,734 Total Comprehensive Income

187,066 165,021 -12 156,084 183,114 175,251



Table 7: Suburban Land Agency: Balance Sheet

Budgetat

30/6/19 $'000


$'000

Budgetat

30/6/20 $'000

Var 1

%Estimate

at30/6/21

$'000

Estimateat

30/6/22 $'000

Estimateat

30/6/23 $'000

Current Assets58,989 Cash and Cash Equivalents 185,444 117,848 -36 22,667 22,825 23,955

7,383 Receivables 11,246 12,378 10 12,112 11,710 12,098300,939 Inventories 85,462 139,412 63 302,711 267,202 267,202

367,311 Total Current Assets 282,152 269,638 -4 337,490 301,737 303,255

Non Current Assets54,911 Receivables 52,406 48,027 -8 44,952 36,337 28,32445,254 Inventories 239,925 366,917 53 275,948 197,577 33,35645,980 Property, Plant and

Equipment46,537 47,144 1 45,871 45,799 45,730

65 Intangible Assets 65 26 -60 0 0 0


513,521 TOTAL ASSETS 621,085 731,752 18 704,261 581,450 410,665

Current Liabilities60,016 Payables 120,145 65,381 -46 65,381 65,381 65,381

0 Finance Leases 0 50 # 50 50 504,280 Employee Benefits 4,227 5,558 31 6,914 8,298 9,709

18,840 Other Provisions 41,877 41,877 - 41,877 41,877 41,87759,507 Income Tax Payable 36,023 34,943 -3 24,622 16,285 0

147,389 Other Liabilities 202,810 367,912 81 349,386 233,528 77,617

290,032 Total Current Liabilities 405,082 515,721 27 488,230 365,419 194,634

Non Current Liabilities0 Payables 10,806 10,806 - 10,806 10,806 10,8060 Finance Leases 0 28 # 28 28 28

201 Employee Benefits 148 148 - 148 148 14870,554 Other Provisions 49,923 49,923 - 49,923 49,923 49,92337,291 Deferred Tax Liability 52,705 52,705 - 52,705 52,705 52,70512,927 Other Liabilities 0 0 - 0 0 0

120,973 Total Non Current Liabilities 113,582 113,610 .. 113,610 113,610 113,610

411,005 TOTAL LIABILITIES 518,664 629,331 21 601,840 479,029 308,244

102,516 NET ASSETS 102,421 102,421 - 102,421 102,421 102,421


105,878 Accumulated Funds 101,991 101,991 - 101,991 101,991 101,991-3,362 Asset Revaluation Surplus 430 430 - 430 430 430

102,516 TOTAL FUNDS EMPLOYED 102,421 102,421 - 102,421 102,421 102,421



Table 8: Suburban Land Agency: Statement of Changes in Equity

Budgetat

30/6/19 $'000


$'000

Budgetat

30/6/20 $'000

Var 1

%Estimate

at30/6/21

$'000

Estimateat

30/6/22 $'000

Estimateat

30/6/23 $'000

Opening Equity

105,878 Opening Accumulated Funds 67,774 101,991 50 101,991 101,991 101,991-3,362 Opening Asset Revaluation

Reserve430 430 - 430 430 430


68,204 102,421 50 102,421 102,421 102,421

Comprehensive Income229,734 Operating Result - Including

Economic Flows187,066 165,021 -12 156,084 183,114 175,251

229,734 Total Comprehensive Income

187,066 165,021 -12 156,084 183,114 175,251


Transactions Involving Owners Affecting Accumulated Funds-122,386 Capital Distributions to

Government-123,496 0 100 0 0 0

122,386 Inc/Dec in Net Assets due to Admin Restructure

123,496 0 -100 0 0 0

-229,734 Dividend Approved -152,849 -165,021 -8 -156,084 -183,114 -175,251

-229,734 Total Transactions Involving Owners Affecting Accumulated Funds

-152,849 -165,021 -8 -156,084 -183,114 -175,251

Closing Equity105,878 Closing Accumulated Funds 101,991 101,991 - 101,991 101,991 101,991

-3,362 Closing Asset Revaluation Reserve

430 430 - 430 430 430


102,421 102,421 - 102,421 102,421 102,421



Table 9: Suburban Land Agency: Cash Flow Statement

2018-19 Budget

$'000


$'000

2019-20 Budget

$'000

Var 1

%2020-21

Estimate

$'000

2021-22 Estimate

$'000

2022-23 Estimate

$'000


979 User Charges 1,075 803 -25 711 519 5321,575 Interest Received 2,479 382 -85 382 382 382

696,646 Land Sales 561,302 430,158 -23 465,846 677,681 698,48323,938 Other 35,082 32,396 -8 24,428 29,941 25,177

723,138 Operating Receipts 599,938 463,739 -23 491,367 708,523 724,574


1,609 Superannuation 1,419 2,093 47 2,185 2,256 2,35431,729 Supplies and Services 25,436 32,927 29 29,584 33,959 30,220


329 437 33 448 457 465

2,662 Interest Expenses 1,450 1,959 35 1,194 1,693 98392,454 Income Tax Equivalent

Payments72,342 71,803 -1 77,214 86,813 91,393

277,538 Related to Cost of Land Sold 185,652 321,563 73 264,449 246,874 231,81125,675 Other 42,660 38,114 -11 24,753 30,494 26,002


279,350 NET CASH INFLOW/(OUTFLOW) FROM OPERATING ACTIVITIES

260,160 -20,389 -108 75,694 289,696 324,319


8,563 Repayment of Contribution 3,459 11,016 218 14,871 15,582 8,0818,563 Investing Receipts 3,459 11,016 218 14,871 15,582 8,081

Payments51 Purchase of Property, Plant

and Equipment150 1,100 633 0 0 0

18,821 Contribution to Joint Operation

12,909 5,740 -56 10,579 6,095 0

18,872 Investing Payments 13,059 6,840 -48 10,579 6,095 0


-9,600 4,176 144 4,292 9,487 8,081


Table 9: Suburban Land Agency: Cash Flow Statement (continued)

2018-19 Budget

$'000


$'000

2019-20 Budget

$'000

Var 1

%2020-21

Estimate

$'000

2021-22 Estimate

$'000

2022-23 Estimate

$'000

CASH FLOWS FROM FINANCING ACTIVITIES

Receipts

Payments170,179 Distributions to Government 119,981 51,308 -57 0 0 0

0 Repayment of Finance Lease Liabilities

0 75 # 75 75 75

183,421 Payment of Dividend 35,135 0 -100 175,092 298,950 331,195353,600 Financing Payments 155,116 51,383 -67 175,167 299,025 331,270

-353,600 NET CASH INFLOW/(OUTFLOW) FROM FINANCING ACTIVITIES

-155,116 -51,383 67 -175,167 -299,025 -331,270

-84,559 NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS

95,444 -67,596 -171 -95,181 158 1,130

143,548 CASH AT THE BEGINNING OF REPORTING PERIOD

90,000 185,444 106 117,848 22,667 22,825

58,989 CASH AT THE END OF REPORTING PERIOD

185,444 117,848 -36 22,667 22,825 23,955




Significant variances are as follows:

Statement of Comprehensive Income

land revenue:

the decrease of $156.512 million in the 2018-19 estimated outcome from the 2018-19 Budget is predominantly due to the delayed settlement of the Macarthur House, Braddon and Turner Northbourne Flats ARI sites and single residential greenfield sites. These are offset by a large englobo settlement which was delayed from 2017-18; and

the decrease of $110.058 million in the 2019-20 Budget from the 2018-19 estimated outcome is predominantly due to the reduction in ARI settlements and the large englobo settlement in 2018-19.

interest: the decrease of $2.290 million in the 2019-20 Budget from the 2018-19 estimated outcome is attributable to lower cash at bank, which in turn decreases interest revenue.

employee expenses:

the decrease of $1.740 million in the 2018-19 estimated outcome from the 2018-19 Budget is due to vacancies throughout the year; and

the increase of $5.330 million in the 2019-20 Budget from the 2018-19 estimated outcome is based on an expectation that vacancies carried throughout the 2018-19 financial year will be filled. The budgeted FTE also increases in the 2019-20 financial year to address capability gaps across the Agency.


the decrease of $5.668 million in the 2018-19 estimated outcome from the 2018-19 Budget is predominantly due to the capitalisation of project related consultancy expenses into inventory. Selling expenses and marketing expenses were also lower as a result of lower land sales being achieved throughout the year; and

the increase of $7.005 million in the 2019-20 Budget from the 2018-19 estimated outcome is due to an increase in project related expenses in line with an increase in development activities and West Belconnen joint venture expenses.

cost of land sold:

the decrease of $85.635 million in the 2018-19 estimated outcome from the 2018-19 Budget corresponds with lower land sales achieved throughout the year and changes in the composition of sales. A significant amount of land sales revenue related to englobo settlements which have higher profit margins due to minimal land servicing requirements; and

the increase of $27.912 million in the 2019-20 Budget from the 2018-19 estimated outcome is predominantly due to an increase in cost of land sold for the West Belconnen joint venture, corresponding with first settlements of land sales beginning in May 2019


and the absence of significant englobo and ARI settlements occurring in 2019-20, which incur less land servicing costs.

interest expenses: the decrease of $1.212 million in the 2018-19 estimated outcome from the 2018-19 Budget corresponds with the decrease in cost of land sold explained above.

other expenses: the decrease of $123.130 million in the 2019-20 Budget from the 2018-19 estimated outcome is due to winding up of the ARI program. The cost of ARI land is recognised against other expenses rather than cost of land sold.

income tax equivalent: the decrease of $18.287 million in the 2018-19 estimated outcome from the 2018-19 Budget and the decrease of $9.448 million in the 2019-20 Budget from the 2018-19 estimated outcome are due to lower reported operating profits, which reduces the amount of income tax payable.

Balance Sheet

cash and cash equivalents:

the increase of $126.455 million in the 2018-19 estimated outcome from the 2018-19 Budget is predominantly due to the payment of dividends in the 2018-19 financial year being delayed to future years to maintain a minimum level of working capital. This is partially offset by a decrease in cash received from lower land sales; and

the decrease of $67.596 million in the 2019-20 Budget from the 2018-19 estimated outcome is predominantly due to a decrease in land sales and an increase in capitalised development expenses, partially offset by a higher opening cash balance carried over from the 2018-19 financial year.

current and non current receivables:

the increase of $1.358 million in the 2018-19 estimated outcome from the 2018-19 Budget is predominantly due to a higher opening balance resulting from fewer infrastructure assets being completed and transferred by third parties in the 2017-18 financial year; and

the decrease of $3.247 million in the 2019-20 Budget from the 2018-19 estimated outcome is predominantly due to lower contributions made to the West Belconnen joint venture, as a result of delays in the timing of construction costs.

current and non current inventory: the increase of $180.942 million in the 2019-20 Budget from the 2018-19 estimated outcome is predominantly due to an extensive construction program planned across multiple estates, including Whitlam, Taylor, Jacka 2, Kingston Foreshore and Coombs with settlements scheduled for future years.

current and non current payables:

the increase of $70.935 million in the 2018-19 estimated outcome from the 2018-19 Budget relates to capital distributions payable to the Territory for ARI sites (Macarthur House, Braddon and Turner Northbourne Flats). The value of ARI land is paid to the Territory on settlement as a capital distribution. Deferred settlement of these sites from the 2017-18 financial year has resulted in a corresponding deferral of the capital distribution payable to the Territory; and


the decrease of $54.764 million in the 2019-20 Budget from the 2018-19 estimated outcome is due to the wind up of the ARI program, under which capital distributions were made to the Territory for the value of ARI land.

income tax payable: the decrease of $23.484 million in the 2018-19 estimated outcome from the 2018-19 Budget corresponds with lower income tax expenses, which reduces the liability at year end.

deferred tax liability: the increase of $15.414 million in the 2018-19 estimated outcome from the 2018-19 Budget is due to recognition of additional tax liabilities arising from assets transferred from the former Land Development Agency, which were not envisaged when the 2018-19 Budget was prepared.

current and non current other liabilities: the increase of $42.494 million in the 2018-19 estimated outcome from the 2018-19 Budget and the increase of $165.102 million in the 2019-20 Budget from the 2018-19 estimated outcome are predominantly due to the deferral of dividend payments to future years to ensure sufficient working capital to sustain operations.

Statement of Cash Flow

Notes are not provided where significant variances are explained in the notes above.

other receipts: the increase of $11.144 million in the 2018-19 estimated outcome from the 2018-19 Budget is predominantly due to increased GST refunds received from the Australian Taxation Office (ATO) relating to the supply of development services by developers.

income tax equivalent payments: the decrease of $20.112 million in the 2018-19 estimated outcome from the 2018-19 Budget is predominantly due to higher 2017-18 instalment payments, which resulted in a lower balance requiring payment in the 2018-19 financial year.

payments related to cost of land sold:

the decrease of $91.886 million in the 2018-19 estimated outcome from the 2018-19 Budget is predominately due to delays in commencing construction in Whitlam and other construction delays; and

the increase of $135.911 million in the 2019-20 Budget from the 2018-19 estimated outcome is due to the flow on effect from construction delays from the 2018-19 financial year and a significant construction program commencing in Jacka.

other payments:

the increase of $16.985 million in the 2018-19 estimated outcome from the 2018-19 Budget is predominantly due to increased GST paid on purchases and payments made to the ATO. In addition, payments to developers for GST on development services also contributes to this variance; and

the decrease of $4.546 million in the 2019-20 Budget from the 2018-19 estimated outcome is due to decreased GST paid on purchases and payments made to the ATO.

repayment of contribution:


the decrease of $5.104 million in the 2018-19 estimated outcome from the 2018-19 Budget is predominantly due to the deferral of repayments by the West Belconnen joint venture resulting from delayed sales due to an ACT Civil and Administrative Tribunal appeal; and

the increase of $7.557 million in the 2019-20 Budget from the 2018-19 estimated outcome is due to deferred repayments by the West Belconnen joint venture.

contribution to joint operation: the decrease of $5.912 million in the 2018-19 estimated outcome from the 2018-19 Budget and the decrease of $7.169 million in the 2019-20 Budget from the 2018-19 estimated outcome relate to changes in the timing of contribution payments required by the West Belconnen joint venture, as a result of delayed sales and development spending.

distributions to Government:

the decrease of $50.198 million in the 2018-19 estimated outcome from the 2018-19 Budget is due to delayed settlement of ARI sites. The book value of all ARI sites is paid to the Territory on settlement as a capital distribution; and

the decrease of $68.673 million in the 2019-20 Budget from the 2018-19 estimated outcome is due to winding up of the ARI scheme at the end of the 2018-19 financial year.

payment of dividend: the decrease of $148.286 million in the 2018-19 estimated outcome from the 2018-19 Budget and the decrease of $35.135 million in the 2019-20 Budget from the 2018-19 estimated outcome are due to the deferral of dividend payments to future years, to ensure adequate working capital to sustain operations.

Statement of Changes in Equity

Significant variances are explained in the notes above.


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